Daily Market Update 9/10/09

Rates moved lower Thursday as global bond markets improved when the Bank of England (BOE) did not increase its stimulus programs. As expected, the BOE held rates unchanged. Weekly Jobless Claims fell a bit more than expected to 550,000. The July Trade Deficit rose sharply, driven by new car sales under the Cash for Clunkers program. Freddie Mac reported average 30-year fixed mortgage rates for the past week of 5.07% with .7 points, down slightly from the previous week. The Treasury will wrap up its 3 day auction with the sale of 30-year bonds this afternoon at 1:00 PM. No more economic data will be released today.

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