Quicken Loans Capital Markets Update for July 29, 2009
This morning’s Durable Goods report showed an unexpected rise – excluding transportation equipment – adding to speculation that the worst of the recession may be over. With the exception of transportation goods, the report was forecast to remain unchanged from the prior month, but instead rose 1.1 percent.
In other economic news, the Treasury’s 2-year T-note auction on Tuesday was weaker than last month, with less interest from foreign bidders. The Treasury plans an auction of $39 billion 5-year notes today. So far this morning, treasuries opened higher in response to a sizable drop in Chinese stocks overnight.
Other economic releases to watch this week include Jobless Claims tomorrow and the GDP announcement on Friday morning.
Stay tuned to Quicken Loans mortgage news for more market updates, mortgage rates and mortgage news!
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