September 28, 2009
September 28, 2009 by admin
The end of the month stock slide may be coming to an abrupt end on Monday as the market jumped well over 100pts today in early trading. The market is looking to regain its footing, following a rough week of selling as investors renewed their confidence in equity positions. The market is moving without influence from economic data and is relying on corporate headlines to push investors. The ten year Treasury bond remains relatively unchanged, despite the sharp upward move from equities today. The ten year bond was trading at 3.31% on Monday, very close to its six month lows. The attractive yields on bonds are carrying over to fixed mortgage rates that remain at or under 5.25% with most national mortgage lenders for thirty year loan terms, and well under five percent for fifteen year loan terms. Interest rates for continue to be resistant to dramatic changes in the equities markets, good news for home owners and potential home buyers who are benefitting from improved portfolio valuations and great financing opportunities.
The stock market has been in a downward spiral up until today, investors fearing that growing out of the current recession would be much longer and more difficult have begun to pull back on their equity positions and take new found profits off of the table. Today, investors were greeted with some key corporate earnings figures in addition to mergers and acquisitions.