6/30/10

Most rate prices worsened today as mortgage bonds lose some ground. The house voted to extend the deadline of the homebuyer tax credit to September and the Senate will vote on it today. The house is also voting on financial regulation today as last minute jockeying takes place as upcoming elections are in sight. Across the pond, the ECB lending facility was tapped less than expected by the European banks, suggesting more strength in that sector than many analysts thought ahead of the upcoming stress tests. Stocks are attempting to pare some of the massive sell off from Tuesday despite less than expected ADP private payroll figures.