Market Comment

Bonds are higher this morning, as the markets anxiously await news from the US Government.

The Treasury Department's auction of $42 Billion in 5-year Notes at 1 pm Eastern Time. At 2:15 pm Eastern Time, the Fed will release its Rate Decision and Policy Statement, which could move markets depending on what the Fed says about rates in the future and its Mortgage Backed Securities purchase program. Finally, the markets could see movement today as experts and investors speculate about President Obama's first official State of the Union address.

For now, I recommend floating, as I monitor how the day's events unfold and impact Bonds. I will 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
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