Maine Mortgage Market Wrap 02.14.2011

MARKET WRAP: The Bond markets rallied for a 2nd straight day as investors looked for bargain prices after the recent steep sell-off. Stock markets traded near unchanged levels throughout the session, which gave some support to Bonds. There were no economic reports released today. The 4% coupon rose 12bp to end the session at 97.12 and closed above resistance at 96.78. As mentioned, Stocks had an uneventful day. The Dow lost 5.07 to 12,268.19, the S&P 500 Index was up 3.17 to 1,332.32 while the Nasdaq gained 7.74 to 2,817.18. Lt. Sweet Crude lost 77 cents to $84.81/barrel. Tomorrow’s economic data includes Retail Sales and NY State Empire Manufacturing data.

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