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Market Update 7/17/2008

By
Mortgage and Lending with CYPRESS MORTGAGE

Treasuries fell as U.S. stock futures rose, easing the haven appeal of government

debt. The two-year note yield rose 4 basis points to 2.47 percent at 7:20 a.m. in New

York, according to BGCantor Market Data. The 2.875 percent security due June 2010

fell 2/32, or 63 cent per $1,000 face value to 100 25/32. The market is about .25 worse

in discount this morning.

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