6/29/10

Rates are the same as yesterdays close this morning, but even with low rates, mortgage traders reported low volumes. Personal Income was up slightly and Personal Consumption (spending) rose .2% – perhaps the consumer is becoming more confident…? The Chicago Fed Survey fell slightly. But critics say that the billions of dollars of stimulus have only moved the problems with our economy from the private to the public sector.
Here this morning interest rates are taking a bit of a breather. The stock markets are pointing to a big down day,