The Fed announced that it purchased $10.2 billion in agency MBS between January 5 and January 7. The Fed may purchase up to $500 billion by the end of June.
There was stronger than average demand for the 10-yr Treasury auction. The Dow fell 25 points.
Jobless Claims announced this morning were lower than expected, and tomorrow the Employment report will be released at 8:30 et, and the consensus is for a loss of 500K jobs in December.
President-elect Obama again warned about the negative impact of failing to pass an economic stimulus plan.
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