Rate Watch, Mon11-24-08

Cautiously watching the interest rate market. The Dow moves up by 300 points. Oil rises to $53.52/barrel up $3.60. Existing home sales fall 3.1% from the previous month coming in at 4.98 million units. Citigroup receives a $306 billion lifeline from the US government and an additional $20 billion in cash from the Treasury. In return, the government will get $27 billion of preferred shares paying an 8% dividend.