Rate Watch 5-12-2010

Alert to Lock:
Mortgage Backed Securities are starting the day lower, as investors appear to be cautious in advance of today's Treasury auction. Stocks are up today and gold hit a record high this morning of $1244 an ounce. Additionally the international Energy Agency lowered its demand outlook for Crude Oil for 2010. Crude oil is down today at $75.11 after being up earlier in the trading session.
Also today, news from Europe helped Stock prices firm up in early trading. Spain announced austerity measures to help narrow its budget deficit. And Germany showed a higher-than-expected rise in its Gross Domestic Product.
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