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Sophia Constantinou

Commentary on the Financial Markets

Monday, January 23, 2012 - Article by: Sophia Constantinou - Lyons Mortgage Services Inc. - Message

By Stephen Casil, Lyons Mortgage Services Inc.

Last week saw more strong economic reports out of the U.S., with Existing Home Sales, Housing Starts, Weekly Jobless Claims, and Manufacturing numbers beating market expectations. In addition, the financial markets became more optomistic about Europe and Greece's ability to restructure their debt. In addition, most corporate earning reports (with the exception of Google and Citigroup) beat market expecations. This better than expected economic news/data led to an increase of the 10 Year Bond Yield from 1.85% (01/17/12) to 2.07% today (slightly higher mortgage rates)

Market Data this week:

Monday, January 23rd - N/A

Tuesday, January 24th - N/A

Wednesday, January 25th - Federal Reserve Meeting/Decision on Interest Rates. They will also give their estimates on future economic growth and an estimate of where they want to short term interest rates for new few years.

Thursday, January 26th - Weekly Jobless Claims, Dollar Volume of Durable Goods (Goods with lifespan of over 3 years), New Home Sales.

Friday, January 27th - GDP (Total Economic Activity of United States), Consumer Confidence Reading.

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