Rates are holding

Markets opened up moderately positive, with stocks looking at Europe for support & encouragement and mortgage bonds being held up by the Fed.  Rumors that Spain is close to asking for a bailout are easing fears of a financial domino effect.  Australia’s central bank lowered its lending rate and that is also adding confidence to investors that banks around the world will continue to prop markets up.  There are no auctions in the bond market this week, but the jobs report is on for Friday and has a tendency to stir the markets.  With rates continuing to hold at historic lows, we will advise locking at these levels.