There is speculation China will buy bonds from debt stricken European nations, such as Greece, which eased the worries of investors and lessened demand for the safety of U.S. treasuries. Treasury Secretary Timothy Geitner will be attending Europe's Economic and Financial Affairs Council this week to urge European governments to step up their crisis-fighting efforts. This will be the first time Geitner has ever attending this meeting. The MBA Mortgage Applications Index rose 6.3% this week.
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