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Writer's pictureJOHN AGUIRRE

Mortgage Market 06/05

Mortgage bonds opened sharply lower this morning as investors start to wonder about who is going to buy the approx. $1 trillion of US Treasuries that will hit the market in the next few months as the government builds up its financial reserves after a 6-month debt-ceiling stand-off. Meanwhile, tensions between the US and China are back in the news with what the US Navy is calling an "unsafe interaction" in the Taiwan Strait. On today's economic calendar, the Factory Orders and Non-ISM Manufacturing numbers are scheduled for release later this morning.


In sum, still quite a bit of volatility ahead.

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