Overall, we see the fixed income market as “soft” but not in a hurry to head towards higher Austin mortgage rates. Just like I mentioned earlier today, the trade is one of consolidation and near good support.
No news but a lot of action as the new week begins. Gold has made a new high, trading above $1100.00, commodities on the rise, and the dollar down against almost every major currency in the world. Oil has rebounded, trading at $79.50 (up over $2.00), as the approach of Hurricane Ida has traders on edge. Stocks got a lift from Europe and Asia with the Dow currently up 130 points. Bonds, notes, and MBS continue to hold up well despite 101 billion in supply coming this week.
Just when we though the other shoe would drop……….., stocks [...]
