Here is your (bullet point) market update for 06/09/2010
- The market kinda seems to have run out of steam today; things picked up this morning and then went back down.
- Beige Book came out today, and Bernanke told us that he was cautiously optimistic about the economy
- The Bond Auction today was a bit of a surprise; it was rated a “B”. and did fairly well.
- Mortgage Rates went back and forth a bit today; no big changes of note.
- Bernanke mentioned entitlements as a long-term problem in our economy; most likely referring to Social Security. Since so many people are out of work, social security is getting less income. Think of it as a smaller cookie jar for Congress to take from.
- Government Proposals on the table to Reorganize, Combine, Break Apart and Regionalize Fannie and Freddie. Who knows whether it would work or have any effect.
Sorry for the short list today guys – have a great evening and we will see you tomorrow