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Italy, Spain, Portugal, Slovakia, Slovenia, and Malta all received credit downgrades yesterday by Moody’s Investors Service. Also, Austria, France and the United Kingdom were placed on the negative outlook status list. Mortgage-backed securities improved yesterday due to this news. When the minutes from the FOMC meeting are released later, details on the decision to keep benchmark rates low until 2014 should surface.

What’s Up on Wall Street?

The U.S. markets closed with mixed results yesterday as China vowed to become more involved in a solution for Europe’s sovereign debt crisis. The Dow Jones Industrial average closed up 4.24 points (0.03 percent). The S&P 500 closed down 1.27 points (-0.09 percent). Finally, the Nasdaq composite closed up 0.44 of a point (0.02 percent).

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