Howsing delinquency fell by a record rate in March as many Americans used their tax refunds to get caught up on their mortgages. This happens every year evidently along with the bump in retail sales as people stimulate the economy by spending money.
FNMA 4.5% bond quote: $100.19 at the close of the session after trading as high as $100.53 for a while there. Part of the pull back is likely due to profit-taking along with the general feeling that the feds are really not going to put the screws to Goldman Sachs as the impression was on Friday.
The feds did vote to pursuit the Wall Street Bank but only after a vote that ended up at 3-2 for it. Many take those dissenting votes and such a close vote to mean that they don't really have as strong a case as once perceived.
Have a great eve!
