Bond Market Comment

Bonds are trading slightly higher this morning, as Stocks move lower on news of the worst decline of the year in the Chinese Stock market.
In economic news, Durable Goods Orders came in weaker than expectations. However, when you remove the volatile transportation orders, Durable Goods Orders actually rose better than anticipated. Overall, recent readings of this report do suggest some stabilization within the economy.
Currently, Mortgage Bonds are trading just above the 25-, 50- and 200-Day Moving Averages. Be prepared to change course if today’s Treasury auction or other market news impacts Bonds negatively.

Leonard Winslow, Branch Manager at Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112