This morning's mortgage bonds are off about 20 bps. Bonds are still sitting above a strong level of support at the 100 and 50 day moving averages so I recommend to FLOAT for now.
This afternoon the much anticipated Fed Minutes are released at 2pm. In these minutes we will discover how the members view the current and future of the economy and their gauge on inflation. Expect confirmation about stopping rate cuts going forward this year. It should be interesting and might be a market mover. I will repost if bonds move negatively on this release.