Just a quick update as we are minutes away from the results of today’s 40 billion 10 year note auction

Just a quick update as we are minutes away from the results of today’s 40 billion 10 year note auction.  The market has slipped a touch, primarily due to hedging in front of the issue.  10 year note down 8/32’s (yield 3.75%), MBS off 5/32’s, and stocks up 33 points on the Dow.  The $10,000.00 question is who will or will not show up to buy the auction.  Deficits, taxes, unemployment, etc. etc. combine to make traders nervous.  Bid to cover and Indirect buyer percentage will be the key.  Expect a sharp pickup in volatility once the results hit the tape.  Both hands on the wheel as we approach the high noon cst data.

About Max Leaman Austin Mortgage

GREAT RATES, LOW FEES, CLOSE ON TIME™ ---- 2012 Ranked #1 Austin Residential Mortgage Lender (Austin Business Journal) 2010, 2011 & 2012 Five Star Professional (Texas Monthly) 2009, 2010, 2011, 2012, 2013 PrimeLending Chairman's Circle Award 2009, 2010, 2011, 2012 Scotsman Guide Top Originator (Top 200 Mortgage Professionals in U.S.A.) Better Business Bureau "A+ Rating" National Lender Rankings (Scotsman Guide): Top Purchase Volume (No. 10) Most Loans Closed (No. 32) Top Dollar Volume (No. 88)

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