For the most part this is a "light" first couple of days to the week for "pertinent" economic data being released! Most of the what will influence the markets will be "headline" news, for instance this mornings news that JP Morgan Chase will up its stock offer for Bear Stearns from $2.00 to $10.00 a share and take on the first BILLION in losses. Oh, I almost forget Bear Stearns agreed to sell a 39.5% stake in the company in order to "bypass" shareholder approval! This GREAT (sarcastically stated) news has far out weighed the fact that FHLB (Federal Home Loan Banks) were freed to invest up to $150 Billion in MBS (Mortgage Backed Securities) which would be great for rates and instead the MBS are down over 50bps points and mortgage rates have taken a .25% point hike.
I leave today's post with just the above and include the "pertinent" data being released later in the week!
Tuesday 3/25: March Consumer Confidence Forecast: 73.3
Wednesday 3/26: Feb Durable Goods Orders Forecast: .6%
Wednesday 3/26: Feb New Home Sales Forecast: 575K
Thursday 3/27: 4Qtr Final GDP Forecast: .6%
Friday 3/28: Feb Consumer Spending Forecast: .0%
Friday 3/28: Feb Personal Spending Forecast: .2%
Friday 3/28: Feb Core PCE Price Index Forecast: .1%
Friday 3/28: March Univ. of Michigan Sentiment Forecast: 69.6
Brought to you by Professional Mortgage Group, Inc.
Your Columbia Missouri Mortgage Broker
Monday, March 24, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment