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As the overseas debt crisis continues, rumors are surfacing that China will be purchasing bonds from financially troubled Greece and additional European nations.  This speculation has put many investors at ease and diminished any need to heighten the security of U.S. treasuries.  This week, Treasury Secretary Timothy Geitner will make his inaugural appearance at the European Economic and Financial Affairs Council to advise governments toward increasing their efforts in the debt catastrophe.

The MBA Mortgage Applications Index rose 6.3%, a great improvement from the 4.9% rate recorded in the previous week.

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