Philly Fed Index dismal | Mortgage Backed Bonds still -16bp

Philly Fed Index | Reported -24.0 | Est -14.0 | Prior -17.4 | ELEVATED

The Philadelphia Fed Index is an important index that is current reflecting extreme contraction in the Manufacturing Sector.  For months almost every report has been signally a damaged economy.  This report unfortunately has not helped the bonds market.  Until the Stock Market steps into reality, I would still recommend LOCKING in this volatile market.