In The News...

There are no economic reports due for release today and the calendar is light for the rest of the holiday shortened week. The only notable reports is the Fed's beige Book tomorrow and the weekly claims report Thursday. The Treasury will sell $33B in 3-Year T Notes today, $21 billion in 10-Year Notes on Wednesday and $13 billion in 30-year Bonds on Thursday. All results will be released at 1:00pm ET. Ousted Hewlett Packard executive Mark Hurd has landed at Oracle Corp. as co-president of the giant software company. Oracle's CEO Larry Ellison said that Hurd did a brilliant job at HP and will do even better at Oracle. There are rumors swirling around Washington that Fannie Mae and Freddie Mac may be combined into one entity. The 2 ailing mortgage providers were not included in the financial reform bill that was recently passed. Mortgage Bonds are rising today as the Stocks fall. The major Stock indexes rallied last Friday on a better than expected jobs report that was released by the government. Bond markets tend to rise when Stocks fall, they move inversely to one another.

________________________________ Confidentiality Notice: This electronic message transmission contains information which may be confidential and/or proprietary. If you are not the intended recipient, be aware that any disclosure, copying, distribution or use of the contents of this information is prohibited unless permission has been granted by the sender to forward it. If you have received this electronic transmission in error, please let us know by reply and then delete it from your system

Brought to you, courtesy of The Mortgage Market Guide