Daily Market Update 7/11/11

Rates moved lower Monday on renewed concerns that Italy may experience debt problems similar to those seen in Greece.  The resulting flight to safety hurt stocks and boosted bonds and mortgage-backed securities.  Rates improved Friday following a much weaker than expected Employment Report for June.  This week, investors will be closely watching budget talks in Washington, DC as the August 2nd deadline for default draws near.  Fed Chairman Ben Bernanke will be testifying before Congress on Wednesday.  Retail Sales and the Producer Price Index will be released on Thursday, the Consumer Price Index will come out on Friday.  No key data will be released today.

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