Atlanta, GA Market Update - November 12, 2010

The Market opened on Friday with reactions to fears from China. Both Stocks and Bonds suffered due to Market concerns that China may raise their interest rates to fight the country's rising inflation.

The University of Michigan reported that the consumer sentiment index jumped to 69.3 in November.  This number is just slightly better than the market expectations of 69.  November's number is considerably better than October's level of 67.7. 

At 11:30 AM EST, the New York Federal Reserve began its buyback of treasuries, now know as QE2.  The expectation was to purchase $6 to $8 billion lower range securities.

All of this caused interest rates to lose considerable ground throughout the day.  This resulted in interest rates higher at the end of the day than where they had opened.