SubscribeDaily Forex Commentary for May 12, 2009
May 11th, 2009 • Related • Filed Under
May 12, 2009
This Week’s Issue? Interest Rates
Now that the bank stress tests, the unemployment report and the Treasury auctions are out of the way, Forex traders are likely to return their focus to U.S. interest rates this week.
Yields have been rising lately driving June Treasury Bonds and June Treasury Notes lower. This has also helped push mortgage rates back over 5%. The Fed is concerned about the higher mortgage rates so it is preparing to buy back several billions of dollars of mortgages this week.
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