Daily Market Update 6/09/08

Rates moved higher Monday as stocks rebounded somewhat from a huge selloff Friday. Pending Home Sales showed a surprising 6.3% increase in April to their highest level since October. Some analysts are citing the report as evidence the real estate market may finally be bottoming out. Key economic reports this week include Thursday’s release of Retail Sales data and Friday’s release of the Consumer Price Index (CPI) for May.

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