Rate Watch 1-5-2009

Cautiously Floating:
The Fed has begun buying up MBS today and will announce the results each Thursday. The plan calls for the purchase of up to 500 billion. New Year for the markets. Should be better for Stocks? Mortgage Backed Securities trading flat in early trading. Oil lower by 66 cents to $45.67. Fed officials endorse Big Stimulus package to battle US recession. Treasuries much lower after last year's historic run up in price and lowest yields in decades.