Yesterday’s release of the FOMC minutes showed a cautious Fed with a downward revision to 2010 growth. Most investors had already speculated that the Fed would remain accomodative over concerns that the economic recovery is slowing. Initial claims continue to show no real signls if improvement. The continuing claims fell, but it is widely believed that the decline in the number of people receiving benefits is due more to people running out of benefits than a surge in hiring.
Treasuries and Bonds are opening up in the green this morning, with MBS prices set to be a little bit better when we set pricing this morning, as compared to yesterday. There are a few important releases to keep an eye on, including Personal Income and Spending along with Durable Goods Orders.
What’s Up on Wall Street?
The Dow Jones Industrial Average decreased 97.28 points (-0.73%) while the Nasdaq fell 31.08 points (-1.02%). Also, the S&P 500 dropped 11.55 points (-0.80%).
Here are some of today’s rates:
- 30-Year Fixed: 3.375% (3.586% APR)
- 15-Year Fixed: 2.625% (3.037% APR)
- 7-Year ARM: 2.625% (3.101% APR)
Here are a few links to some of today’s financial articles. Be sure to leave a comment below if you know of any additional financial articles that are trending today.