Market commentary

The market news today is all about the General Motors IPO, which has buoyed U.S. stock markets. Treasuries are faltering, so once again interest rates are climbing. The yield on the 10 year note hit 2.96% early this morning, but has since recovered to 2.93%. The bear attitude in the bond market does not appear to be going away anytime soon, but looking at the glass half full; one can still obtain a 30 year fixed rate mortgage at 4.50% or better.