Wednesday’s bond market has opened in negative territory as traders take a cautious approach to this afternoon’s Fed release. Stocks are extending their afternoon rebound from yesterday’s early sell-off, pushing the Dow higher by 118 points and the Nasdaq up 46 points. The bond market is currently down 8/32 (2.84%), which should create an increase of approximately .125 of a discount point in this morning’s mortgage rates.
8/32
Bonds
30 yr - 2.84%
118
Dow
31,086
46
NASDAQ
11,368