“Mortgage Bonds are higher after a mixed June Jobs Report that showed more workers were added in June than expected. On Sunday, Greece will hold a referendum vote for a Greek bailout. A yes vote would usher in a bailout plan and early signs are for a yes vote. This could push Stock prices higher on Monday at the expense of Bonds. I will continue to recommend locking to avoid the headline risk associated with the Greek saga. If anything changes, I will get back to you. The capital markets are closed tomorrow in observance of the 4th of July. Have a safe and happy holiday weekend!”
“Better than expected ADP job data along with a possible deal being struck for Greece is pressuring Mortgage Bonds considerably lower this morning.
The June Jobs Report will be released tomorrow morning and ahead of the report, I am recommending locking, to avoid any headline risk. If there are any sudden changes, I will quickly alert you.”