Danny Salas

Archive for August 21st, 2009

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Chico, CA Interest Rates Market Report – Economic Influences – Aug 21, 2009

Expect Higher Rates These Next Few Weeks

Homes are a’sellin’!

What a nice surprise!  Existing Home Sales were at 5.25 Million, while only 5 Million were expected.  That’s great news, but bitter sweet, when you realize that statistics like that cause higher interest rates.  As I have been noting for three days, it would be prudent to lock. 

Bonds For Sale…Get Your Treasury Notes, Here!

I have also been talking about the Treasury Auction Announcement from the Federal Reserve, lately.  Well, yesterday was the day, and the Fed indicated that they were auctioning off $110 Billion in Treasury Notes next week.  We may be surprised, however, I don’t think those auctions will faire very well.  On Tuesday, the Fed will acution $43 Billion in Two-Year Notes.  Wednesday, we’ll see $39 Billion in Five-Year Notes.  And, finally, on Thursday, $28 Billion in Seven-Year Notes.  With no real foregin appetite for our Bonds, I expect that this will hurt interest rates and that effect may last about two to three weeks.  Maybe even longer. 

Feelin’ It At The Pump

Oil is trading higher than we’ve seen all year.  At $74 a barrel, it might be time to start taking the bus to work.  Or, after my knee surgery, a bike might be a smart move. 

Good ‘Ole Ben Bernanke

Ben Bernanke is speaking in Jackson Hole, Wyoming today.  He mentioned that our economy is “on the cusp” of a recovery.  On the cusp?  How big is a cusp, anyway?  I’m not so optomistic about being on a recovery.  You just wait and see…come October, Third-Quarter economic reports from corporations are going to paint an ugly picture!  Then we should see rates lowering…but who knows for sure!