Quicken Loans Market UpdateTreasuries are up this morning ahead of the $99 billion auction of new debt scheduled for later this week. Also, MBS prices have been pushed down as a result of this activity.

What’s Up On Wall Street?

All of the U.S. indexes closed in the red Monday as Moody’s cut Germany’s credit rating to “negative” on concerns about the eurozone’s stability and need of more bailout funds. The Dow Jones Industrial Average closed down -101 points (-0.79 %). Also, the Nasdaq Composite closed down 35.15 points (-1.20 %). Finally, the S&P 500 closed down 12.14 points (-0.89 %).

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