This morning at 8:30 the 10 yr note was unchanged, mortgages +3/32 and the DJIA futures +81. At 9:00 the 10 yr +4/32, mortgages +4/32 and the DJIA +80. At 9:30 the DJIA opened 70, 10 yr note +3/32 and mortgages +4/32.
Starting quietly so far in the rate markets, but holding fractional gains at 10:00. No economic data to deal with today, no data of substance until Thursday and Friday and then not much. This week its supply again; occurring every other week Treasury borrowing used to be a serious thing but these days it almost passes as a yawn as investors continue to grab up $200B a month of Treasury debt. As long as the dollar slides, it will continue to drive investors to US investments. Stocks are running higher on foreign demand, US debt is seeing strong demand on the back of the dollar.
At 1:00 this afternoon Treasury is scheduled for quarterly refunding with $40B of 3 yr notes; expected to be well bid by both domestic and foreign buyers.
With Veteran’s Day falling in the middle of the week, rate markets are more likely to trade more conservatively. Traders are not likely to press today or tomorrow, global markets trading on Wednesday puts positions a little more at risk. No economic releases of substance; even weekly jobless claims and the U. of Michigan sentiment index are not seen as critical.
Market Minute information for November 9, 2009 provided by:
 Patsy Bailey Mortgage Banker |
 4801 Lang Ave NE Suite 100 Albuquerque, NM 87109 4001 Office Court Ste 603 Sante Fe, NM 87507 Cell: 505.715.3231 Office: 505.473.4045 ext.109 E-mail: patsybailey13@gmail.com |
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For more information on home financing, visit my Albuquerque Mortgage Page.
