I hope everyone had a wonder New Years Eve.  I for one am glad to be putting 2008 in the rear view mirror, and I am excited and looking forward to 2009.

Markets closed today but will be open for normal trading hours tomorrow.  The only report we get tomorrow is the ISM index, which gives investors a measure of the strength of our country's manufacturing conditions.  Historically, this report has had a big impact on mbs pricing, but keep in mind we are not in normal times.  I suspect that this report will not hurt nor help the mbs market.  The report is released 9am est and economists are expecting a reading of 35.0 after last months dismal 36.2 reading.

Happy New Year!!!