No major economic data on today’s calendar, however, the remainder of the week is full and will include the Case/Shiller home price index, new home sales, Durable Goods orders and third quarter U.S. Gross Domestic Product.
The markets spent most of last week focused on Europe, and that will remain a factor until there is a resolution to the financial crisis. In the U.S. the stock markets are moving higher and bond prices are slumping, pushing the yield on the 10 year note to 2.225%, up from Friday’s close of 2.18%. Mortgage pricing is worse by .25%.
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