Monday of a Short Week

Where does the weekend go? It seems if you blink, you miss it. For me, it goes to softball and baseball tournaments. Which really is a great way to spend a weekend, if the weather isn't hit record high heat. Our pool was the most inviting I think it has ever been, when we came home from Sunday's softball outing.
Bonds have done well over the last week, but are facing a strong ceiling of resistance. The floor of support is over 50 bp below, so any volatility could see big swings in value. It is a holiday week and for some reason with less trading comes more volatility. So we will need to watch the MBS market and see where we are headed.