As the stock market tanked again this week after the train wreck of a jobs report the bond market continued to rally. This weekly chart shows that the TLT ETF as a proxy for the bond market and mortgage rates reached a short term high on decent volume. With the pullback last week on lower volume and the recent upswings on higher weekly volume it looks like the strength is intact for now. If stocks break lower and take out crucial support then watch the TLT soar and watch mortgage rates take another leg down. I can't wait to see how this week plays out.
Branch Manager, Highlands Residential Mortgage, Ltd., Palm Beach Gardens Florida
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