Theme for The Week: Employment and Production

Most of our scheduled economic releases this weak will deal with either employment or production.  The only scheduled release for today is the Chicago NAPM index which read extremely low last month and is forecast for another historically low reading.

So far this morning, MBS have extended their uphill march that began on Friday, but the data and the stock market's reaction may turn the tide in 15 minutes.  

The good news about MBS being in positive territory this morning is that it signifies limited backlash to the proposed "re-working" of financial regulation in the US.  That headline will still have much more to say before it's full impact is felt though.

 Stay tuned for NAPM reading and the MBS market's reaction in about 15 minutes.