Just a heads up as both the 10 year note and mortgage backs are negative on the day

Just a heads up as both the 10 year note and mortgage backs are negative on the day.  Another outside down day in the making (futures close at 2:00 cst) which will add bearish sentiment to our bias.  Stocks reversing course and going positive (Dow up 20) is putting additional pressure on fixed income yields.  Austin mortgage borrowers are advised to play defensive.

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