Weaker than expected Consumer Spending data helped push bond prices higher this morning, after the steep Thursday sell off. Consumer spending accounts for 70% of the US economy, so although Personal Income rose and inflation remains tame, stocks are taking a breather. Mortgage bonds are improved by .125% to .25%.
The bond market is closing early today if front of the long Memorial Day weekend; therefore, HSOA’s lock desk will close at 12 noon, Pacific Time.
Enjoy your long weekend!!
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