10 November 2009 ?Bonds are currently at a day change of up 9bps after opening up slightly higher than yesterday. The $40 billion auction of 3-year notes yesterday was successful in strengthening mortgage bonds and the much maligned dollar. Strengthening the dollar has been the focus of foreign and domestic investors who hope to limit its decline and then use its improved standing to aid an economic recovery. There will be another auction today, starting at 1 pm EST, for $25 billion in 10-Year notes. The market, after its incredible rally yesterday, has been relatively quiet today and is currently hovering near break-even status. It has been hampered by struggling financials, including MBIA, whose shares have drop nearly 20% today. It will be interesting to see how the stock market plays out the rest of the week as investors await Ben Bernanke?s address concerning monetary policy next Monday. Mortgage rates remain strong with 4.750% (4.799% apr) on the 30 year and 4.25% (4.334% apr) on the 15 year.Email This Post To a Friend.