Lawmakers on Capitol Hill reached a bipartisan two-year budget deal last night that would avoid another government shutdown. It looks like it will be approved, and the prospect of some clarity is weighing on Bonds a bit so far today.
There were no economic reports released this morning, but the Treasury will be selling 10-Year Notes this afternoon and the added supply and results could impact trading.
The technical picture for Mortgage Bonds seem to be breaking down. Therefore, we are recommending to lock. If anything changes, we will update the status.