No. of Recommendations: 3

Existing sales even lower than expected. I think time to lock in rates on longer instruments before it is too late (although Treasuries are up today).

Why? One data point doesn't make that much of a difference. The Fed memebers aren't united over future rates. I think the picture is way to muddy to make decisions based news. We are much better off sticking to our plans, their boundries and their cues.

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