Greece continues to be the subject of attention. Late last night it was announced that they would receive their bailout to avoid default next month. Markets didn’t seem to care too much about the info. It just goes to show that no matter how much research and forecasting you do, you can’t predict how markets will react. US interest bond rates are a little higher on the news this morning, but Mortgage Backed Securities are trading around the same range as last Friday. After two days of weakening at the end of last week, I’m hoping for a little correction and rates to improve slightly through this week. Probably why there was no change today as markets priced in the Greek bailout expectation last week.
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