Secondary market really tried but coming to a close on the day we are down 3 ticks. Nothing to be too discouraged over; be that as it may, it puts all the more pressure on Monday.
Monday, March 22, 2010 is not just your average Monday it is the first day of the last week of the Fed buying MBS. That in and of itself is news that investors looking at our market may weigh heavily on. If treasury yields are high, all that much more to be concerned over.
I am expecting a slow opening Monday morning as investors try to gauge what other investors are thinking. If any momentum is to build we're going to have to quash the selling trend developing.
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