Market Update

Bonds are rallying this morning, erasing yesterday's losses. The main reason for this rally is that the Stock market is down significantly so far today. In other news, the markets are expecting tomorrow's Jobs Report to show that 80,000 new jobs were created in the month of October. I think the number is going to come in above expectations, and Mortgage Bonds will likely have a negative reaction to it. With Bonds trading near resistance and signs pointing towards an upside surprise in tomorrow's report, it appears prudent to lock ahead of tomorrow's Jobs Report.