Last Updated: 11/28/2007

Wednesday's bond market has opened well into negative territory again despite weaker than expected economic data. The stock markets are showing strong gains again with the Dow up 175 points while the Nasdaq has gained 58 points. The bond market is currently down 16/32, which will likely push this morning's mortgage rates higher by approximately .250 of a discount point. The Commerce Department said this morning that new orders for big-ticket items fell 0.4% last month when analysts had expected no change from September's levels. This indicates that the manufacturing sector was weaker than expected. Also worth noting is that this was the third consecutive monthly decline in orders. This news is favorable to bonds, but the attention that stocks are getting has prevented a rally in bonds.