Thursday’s rebound in stocks couple with a very poor 30 year bond auction hammered bond prices, pushing yields higher across the board. This morning retail sales were reported higher, however, consumer sentiment as measured by the Reuters/University of Michigan survey, fell to 54.9 from 63.7.
In reaction to the data U.S. stock markets continue to move higher and we also have an improving bond market. Volatility this week has been extreme and is expected to continue as solutions for the financial and economic problems in the U.S. and abroad appear to be off in the future.
The good news for this weekend is those folks shopping for their first home, a new home, or looking to move up, have access to the lowest interest in decades!!!
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