Daily market Comment

Mortgage Bonds are starting the week on the upside, as Stocks slide lower due to fears of a slower than anticipated world economic recovery.
Amidst all the global negativity was some better than expected news this morning on US manufacturing, as the Empire State Index came in far better than expectations. There are no Treasury auctions this week, but this Thursday will bring the announcement for the upcoming round of Bond supply that will hit the market next week. Bonds have not reacted well to previous announcements of additional supply, so this will be something to watch for later this week.

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