OK, we have been preaching the last week and half about how low interest rates are and their predicted assessment of going even lower. With that being said it's going to be a somewhat slower week for economic data. This is the time of year where earnings reports start rolling out from the holiday season, I personally find it very hard to believe that these reports will ad strength to the economy.
It appears that the market will be watching for these reports and forming their own opinion based on them and other "key" factors like oil prices, jobless claims (last Friday 1/4/08), and other miscellaneous data. This could be an extremely volatile period for the markets in the coming weeks. If earnings reports are positive then market should swing in a big way, if they are negative we will continue to see a slumping Dow, an increased amount of money going into Treasuries and therefore a reduction in mortgage rates!
As usual we will keep you posted on necessary information
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