Daily Market Update 1/30/09

Rates were little changed Friday following the release of preliminary fourth quarter Gross Domestic Product (GDP) figures. The data showed the economy contracted at a 3.8% pace last quarter, the worst performance since 1982, but better than expected. Stocks moved lower. Investors continue to focus on the proposed stimulus package and the Fed’s plans to purchase Treasuries and mortgage-backed securities. Our offices remain closed due to massive power outages throughout the north-central Kentucky region as a result of the ice storm. We apologize for any inconvenience and hope to resume normal operations Monday.

Leave a Reply

Your email address will not be published.

Back to top