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Quicken Loans Capital Markets Update for August 21, 2009

Yesterday U.S. Treasuries traded higher after the Treasury announced the size of their upcoming auction. In a surprise move, the Treasury left the total size of their 2-year, 5-year, and 7-year notes unchanged at $109 billion.

At a time when the U.S. government is issuing record amounts of debt, it is refreshing to see no increase in this monthly auction.

The Existing Home Sales Report will be released at 10:00 AM ET today and is expected to increase +2.1% to 5 million, adding to the increase of +3.6% seen in June.

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