Daily Market Update 10/20/08

Mortgage rates improved slightly Monday as the yield spread between mortgage-backed securities and Treasuries declined. The Index of Leading Indicators rose last month, but the reading appears to be an anomaly caused by the steepening yield curve and increased money supply, both resulting from the credit crisis. Fed Chairman Bernanke, in testimony before the House Budget Committee, endorsed consideration of an additional economic stimulus package. Stocks moved higher. No additional economic data will be released today.

Leave a Reply

Your email address will not be published.

Back to top