Rate Watch 12-4-2008

Cautiously Floating:
The Big 3 are back on Capitol Hill today looking for a bridge loan to keep from bankruptcy. With all of the bad news and weak data Stocks are slightly positive. Mortgage Backed Securities are unchanged. Not much action in the debt markets as traders await the big jobs report tomorrow. Non-farm payrolls are expected to fall by -325,000. AT&T to cut 12,000 jobs. Oil continues to drop now at $45.75/barrel down $1 as demand slows and even despite OPEC cuts in production.