Rate Watch 3-2-2009

Cautiously Floating:
The Dow is currently below 7,000 for the first time since 1997 on fears that the recession is getting worse. Additionally news that insurance giant AIG lost more than $61 Billion in the 4th quarter of 2008--which is the biggest loss ever for a US company. As a result, the government is preparing to provide AIG with a $30 Billion line of credit using money set aside from the TARP fund created last year. Mortgage Bonds are trading near unchanged levels.