9 November 2009 ?Bonds opened today at 6bps and have moved to a current day change of up 6bps. The upcoming week may not provide the same market-changing events such as the first-time home buyer tax credit extension and unemployment figures did last week. Notably, the Treasury will auction off $40 billion in 3-year notes at 1PM ET today. This auction will play a significant role in determining how pricing will shape up for the rest of the day and throughout the week. The weekend layoff did not slow down the stock market, as the Dow, Nasdaq and S&P 500 are all up nearly 1.5% during trading today. The dollar reached a 15-month low after a G-20 meeting reported that the dollar?s strength is wavering towards a medium equilibrium. Naturally, gold soared above the $1100 plateau and is showing no signs of slowing down as it and other commodities continue to be the hot picks of investors. Expect the market to continue its upward trend as more and more companies continue to report 3Q earnings. Many looming company acquisitions, such as Google?s purchase of technology provider AdMob, may help the market as well. Mortgage rates remain strong with 4.750% (4.799% apr) on the 30 year and 4.25% (4.334% apr) on the 15 year.Email This Post To a Friend.
Gold Soars as the Dollar Continues to Decline
November 9, 2009
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