Treasury prices are down this morning as the U.S. government prepares to auction off $29 billion in seven-year debt this afternoon. Also the Durable Goods Orders reports came in up 0.2 percent from last month.
Treasuries and mortgage bonds are up this morning on a report that showed U.S. home sales fell dramatically. The July existing home sales report was expected to show a sharp decline of -13.4% to 4.65 million. The actual number showed a larger than expected decline of -27.2% to 3.93 million.