Rate Watch 1-06-2009

Cautiously Floating:
Looks like the FED was back in the markets this morning aggressively buying Mortgage Backed Securities. Stocks open to the upside. MBS at best levels of the day. Treasuries bonds moving lower. Oil peaks its head above $50/barrel to a 5 week high on OPEC production cuts and continued unrest in the Middle East. Treasuries taking a beating for a 2nd straight day in early trading. Early Stock futures point higher on stimulus plans and signs that the carnage from last year may be abating - but that is just today.