Rate Watch 1-15-2009

Cautiously Floating:
Mortgage Bonds have remained relatively steady so far this morning. Meanwhile, JPMorgan Chase surprised the market with an earnings report that beat expectations. It's been awhile since a financial Stock actually surprised to the good side.In other news, inflation is virtually non-existent at the wholesale level as the Producer Price Index showed that prices fell in December for the fifth consecutive month. Tomorrow’s Consumer Price Index report will show how costs have increased or declined on the consumer side.