After a busy week of economic releases, there are none scheduled for today. Interest rates continued their slow climb yesterday after a strong reading on the Philadelphia Fed manufacturing index. This index hit a six month high with most sub-components improving, except for the employment portion, which continued to decline.
This morning, stocks are higher in the US and Europe despite word of a delay until Wednesday of a planned meeting to announce a new “plan” to fix the European sovereign and financial crises. Bond prices are lower/interest rates higher again, with the yield on the 10 year note hitting 2.21%.
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