Market Update
The bond market is down this morning, but is still near Friday’s seven week high for treasury yields. The bond market experienced a “flight to quality” last week, as investors worried about oversea credit markets and scared off of equities by disappointing employment numbers loaded up on the safer bond market. This week the economic data is a little sparser, today has no new reports and there is not data of much significance until Thursday’s Initial Jobless Claims and Retails Sales reports. Wednesday Fed Chief Bernanke will speak before the House Financial Services at 10:00 am EST. Also there are three auctions this week; the government will sell a total of $81 billion in 3-year, 10-year and 30-year Treasury securities starting tomorrow.
| Daryl Hadd Cell 602-361-4110 E-Fax 877-298-2203
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