Rates were little changed Friday. Mortgage-backed securities (MBS) came under pressure this week following three consecutive days of poor auction results for US Treasuries, beginning Tuesday. This morning, former Federal Reserve Chairman Alan Greenspan called the recent rise in Treasury yields a “canary in the mine”, saying investors are concerned about “this huge overhang of federal debt which we have never seen before”. In economic news, fourth Quarter GDP was revised down to +5.6%, a bit below expectations. Consumer Sentiment was unchanged in March. Stocks moved higher. Next week will be extremely busy in terms of key economic data. Core PCE, the Fed’s preferred measure of inflation, will be released Monday, the Chicago Purchasing Managers Index will come out Tuesday, the Institute for Supply Management manufacturing index on Thursday, and the closely-watched Non-farm Payrolls report for March will be released Friday. MBS markets may be unusually volatile. No other data will be released today.