21 September 2009 ? Today the bond market opened up 16 bps and we are currently up 22 bps. Stocks are down 50 points, which is giving the bond market a lift today. Further weighing on stocks is the increasing tension in the Middle East. If fighting were to break out between Israel and Iran, stocks may lose some ground as investors seek the ?safety? of bonds. This week will also bring record size Treasury auctions beginning on Tuesday afternoon. $112 billion will be auctioned off, 2-, 5- and 7-year notes. Buying for these auctions will be closely watched to see the demand for Treasuries. The 30-year rate is at 4.875% (APR 4.909) and the 15-year rate is at 4.375% (APR 4.433).Email This Post To a Friend.
Middle East, T-Bill Sale, and Stock Market Boosting Bonds Influencing Today’s Mortgage Rates
September 21, 2009
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