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Jon Allen

Morning Commentary on Financial Markets 2-6-2012

Monday, February 6, 2012 - Article by: Jon Allen - Lyons Mortgage Services, Inc. - Message

Good morning,

Last week saw most economic data come in better than market expectations, including this past Friday's Employment Report. As a result, the 10 Year Bond Yield rose from 1.84% (on 01/30/12 - Monday) to 1.95% (on 02/03/12 - Friday). This also drove up mortgage rates.

Today, the 10 Year Bond Yield has fallen slightly to 1.93% due to more economic uncertainty in Europe. The financial markets are still worried that Greece might not be able to avoid a default. As a result, mortgage rates are down slightly today.

Market Data this week:

Monday, February 6th - Dallas Fed Present Fisher will talk about the Fed's economic outlook (in the afternoon)

Tuesday, February 7th - Consumer Credit (measure of consumer debt)

Wednesday, February 8th - N/A

Thursday, February 9th - Weekly Jobless Claims

Friday, February 10th - Trade Balance (measure of U.S.Exports vs. Imports)

Stephen Casil, Lyons Mortgage Services Inc.

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