Mortgage Bonds are trading near unchanged levels as the government shutdown extends to the third day. President Obama and Congressional leaders met at the White House last night, but the two sides are no closer to a deal to re-open the government than they were before.
In economic news, Weekly Jobless Claims continue to hover near 6-year lows. Tomorrow’s closely watched Non-farm Payrolls data will not be released by the Labor Department due to the shutdown.
We will continue to recommend a Locking stance as Mortgage Bond prices stall at current levels.