Money Market Recap & Forecast from the Daily Communicator: June 21, 2010

June 21st, 2010

Written by Frost Mortgage

Last week was mixed for U.S. Treasuries. A combination of friendly economic reports, lingering questions about the global economy and mixed messages regarding Spain’s financial situation kept buying in government debt steady to strong.
But there were a few bumps. On Monday a big rise in the euro took its toll on Treasuries.

On Tuesday the NY Empire State index of June manufacturing conditions rose to 19.57 from 19.11, but analysts expected 20. Separately, the sentiment survey of residential homebuilders in June fell to 17 from 22 — the lowest since March. These reports should have helped Treasuries, but a massive rally on Wall Street due to the increase in the euro left Treasuries in the dust.

Treasuries turned it around on Wednesday. It began with a huge drop in May housing starts. They fell 10% to an annual rate of 593,000 units from 659,000, and building permits slipped 5.9% from April.

If you’re interested in reading the entire report, published every day and packed with valuable information you can use in your business from mortgage industry leader Greg Frost, please visit The Daily Communicator: http://www.thedailycommunicator.com/

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This entry was posted on Monday, June 21st, 2010 at 8:13 am and is filed under Branch Partner Opportunities, Economy, Greg Frost Sr., Monday Money Market Recap & Forecast, Mortgage Banker News, Net Branch Opportunities, The Daily Communicator. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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