THE BASIS POINT

Quiet Day For Stocks & Rates. Preview Of Week.

The Dow is up 45 this morning on expectations of strong first quarter earnings but the S&P 500 is still stuck in it’s 1332 range. As noted Friday, this range is keeping a lid on stocks overall, but if the S&P breaks above this mark, we could see stocks rise and bonds fall.

Also, here’s another reason bonds could fall this week, pushing rates up. For now, the 10yr note and also mortgage bonds (that rates are tied to) are flat.