Rates are mostly flat in early afternoon trading. They were not flat in mid-morning trading as the 10-year Treasury was as high as 4.692%. There were no economic

items this morning to direct rates one way or the other.

The bond market’s climb mid- morning is mostly attributed to stock market activity.

FED Governor Mishkin’s gave a speech is titled, “U.S. Economic Outlook at the Levy Economics Institute, Bard College, Annandale-on-Hudson, New York; at 12:30 p.m. EDT. While we do not yet have the text, it appears that the speech was good for bonds. Trading reversed course in the first ½ hour of his address.

The 10-year Treasury is +.006% with the yield at 4.676%.

We will blog about next week tomorrow.

[Publisher’s note: In an attempt to clean up our blog, we will post all three outlooks on Monday only. We will post an outlook on days when one is modified.]

Steve Boxmeyer [612] 799 – 6858

steve@LendWithIntegrity.com