Mortgage Bonds are trading in positive territory so far this morning, as the Stock market is moving lower causing money to flow over into Bonds.
Pressuring Stocks lower was news from delivery giant UPS, which issued a profit warning. The reason this is of great concern to the Stock market and overall economy is because much of commerce is done through shipping giants like UPS, so less shipping means less sales and less sales means continued weakness in the economy. Of course, Bonds liked this news.
