Rate Watch Wednesday 11-26-2009

September demand for oil was lowest since March 1997. Reports that the automakers, with Chrysler, are expected to go before Congress to lay out a plan how they would use a potential $25 billion loan from the government. In addition, Deutsche Bank said a bailout of the auto industry in increasingly likely, according to the report. MBS trading slows as traders take off early for the extended weekend. Stocks in positive territory. Oil at $53/barrel up $2.25. New home sales lower than expected. Chicago PMI lower. Tell us something we don't know. Consumer sentiment still down in the dumps. MBS higher but off best levels and close at 2:00pm ET. Stocks slightly lower. oil at $52.52/barrel up $1.50.Action packed news morning before the shortened week. PCE unchanged in October as expected. Durable orders plunge. MBS flat. Stock futures plummet. Oil at $52.30/barrel up $1.55. Currently Floating