Rates Up On GSE Concerns
14 July 2008
Bonds are up today and the stock markets are down, yet rates will rise about .25 to the points today as investors react on their concern over the status of Freddie Mac and Fannie Mae, the two Government Sponsored Entities (GSE)s that have recently fallen into crisis, and have had recently received the support of the Federal Government via a large capital infusion.
On deck this week are a host of important economic events including Bernanke’s testimony to Congress tomorrow, the minutes from the last FOMC Meeting, June PPI data and June Retail Sales Data.
Altogether it makes for the possibility of a very volatile week for interest rates.
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