Market Comment

Bonds are currently trading near unchanged and sit pressed right against the ceiling of resistance at the 50-Day Moving Average.
The continued weakness in Stocks has been a big help for Bonds, which have benefited from some Stock sale proceeds being parked into Bonds. If Stocks are unable to regain their footing, we may see a continued slide lower in Stocks, which could benefit Bonds.Since the trading in Bonds will be driven mainly by Stocks today, I recommend floating for now. I will continue to monitor the markets and let you know if a change of course is needed.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112