Prices of Mortgage Backed Securities (MBSs) and Treasury bonds rose this morning (rates lower) and pretty much throughout the day on the continuing weakness in the stock markets. In addition, there's speculation that the central banks may increase the purchasing of assets after the Bank of England said it would buy long term bonds after cutting rates 50 basis points. In addition, the employment report is due out on Friday
The Treasury Dept announced that $63 billion of T-bills will be auctioned next week, following $94 billion of sales last week. Also the Fed reported they purchases $59 in MBSs, more than double of any previous period.
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Lew Corcoran, ASP®, IAHSP, IAHSP-CB