Danny Salas

Archive for December 7th, 2009

Chico, CA Interest Rates Market Report – Economic Influences – December 7, 2009

After 6 Days Of Higher Rates...We're Finally Floating Again

Rates Getting Better

Finally, after six straight days of increased interest rates, mortgage-backed securities are finally making a move in the other direction, to the benefit of rates. 

Treasury Auction

With no real economic information to influence markets this week, interest rates will likely follow technical factors and results of the Treasury Department’s Auctions, throughout the week.  Tomorrow, $40 Billion in 3-Year Notes will be auctioned.  Wednesday will auction off $21 Billion in 10-Year Notes and Thursday will see $13 Billion in 30-Year Notes. 

Ben Bernanke

Ben Bernanke is speaking at the Economic Club of Washington today.  His statements may be alarming, following Friday’s Jobs and Unemployment Surprises.  There is talk that the Fed may increase the overnight rate sooner than most thought.  This is causing the Dollar to gain value at the cost of stocks, gold, and oil. 

Locking Advice

After the change in trading this morning, we should float into the day and see what happens with the first Treasury Auction tomorrow.

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