Commentary: Even though some credit market participants will likely choose to sit on the sidelines until the March non-farm payrolls figures are released on Friday morning -- most observers believe the bidding at today's $35 billion 5-year Treasury note auction will be decent. The auction will conclude at 1:00 p.m. ET and I'll post the result on my website as soon as possible once the final gavel falls.
Given that the 5-year Treasury note auction goes as well as expected -- look for little change on your mortgage investors' rate sheets in terms of either rate or price today.
THE MARKET IS ALWAYS RIGHT! YOU AND I ARE SOME OF THE TIME.
