“Mortgage Bonds are giving back some of yesterday’s gains as the Italian turmoil eases a bit along with the safe-haven trade in U.S. Bonds and dollars. In economic news, ADP Private Payrolls for May came in just below expectations while the second reading on Gross Domestic Product remained steady. I am recommending floating today, but my position could switch to locking Thursday afternoon ahead of the May Jobs Report on Friday. If anything changes, I will get back to you.”
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