Rates Unchanged
28 January 2008
The bond market was flat this morning, despite worse than expected economic news.ﾃつ Rates improve this morning by about .375 to price due to strength in bonds late Friday.
December’s New Home Sales data showed a 4.7% decline, much larger than expected and the biggest overall drop since 1963 for the year 2007.ﾃつ ﾃつ
We’ll see an FOMC meeting this week, as well as Durable Goods Orders for December, GDP, ISMﾃつ and Employment Reports due out later this week.ﾃつ ﾃつ Every day has the potential to witness major interest rate volatility, as there is a lot of uncertainty out in the markets and the Fed could continue to surprise.
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