Greek debt deal good for markets
Posted February 21, 2012
A relatively quiet start to the week, with the markets closed on Monday for the President’s Day Holiday.
On Tuesday, the Dow crossed the 13,000 threshold for the first time since May 2008 feeding off of the optimism being driven by an agreement to curb Greece’s debt which has finally been reached in Europe. As expected, Bond Yields began to rise post debt announcement, and by mid-afternoon the 10 Year Yield had reached 2.07, which is the highest figure we have seen in quite a few trading sessions.
Mortgage Rates continue to trade narrowly, but we are beginning to see a slight upward trend on rates as better economic news from the US and Europe begins to enter into the equation.
Existing Home Sales, New Home Sales and Weekly Jobless Claims are on deck for release later this week.