Market Outlook Monday, January 12, 2009 Price Trend: Neutral Price Volatility: Very High Recommendation: Cautiously Floating _________________________________________________________________ Current Conditions: Today’s Economic Data (all times PDT) FNMA 4.5 102-06 (+0) None GNMA 4.5 103-00 (+1) 10yr Yield 2.351% _________________________________________________________________ Commentary: It is a typical slow start to the week as far as economic data goes. Treasuries are up this morning, but mortgages are not going along for the ride as spreads widen out once again. The action will pick up later this week with December Retail Sales, PPI and CPI all on tap. This Week’s Calendar: Date ET Release For Actual Briefing.com Consensus Prior Jan 13 08:30 a.m. Nov NA -$51.0B -$57.2B Jan 13 02:00 p.m. Dec NA -$33.0B -$48.3B Jan 14 08:30 a.m. Dec NA NA NA Jan 14 08:30 a.m. Dec NA NA NA Jan 14 08:30 a.m. Dec -1.0% -1.1% -1.8% Jan 14 08:30 a.m. Dec -1.2% -1.2% -1.6% Jan 14 10:00 a.m. Nov -0.5% -0.5% -0.6% Jan 14 10:35 a.m. Crude Inventories 01/09 NA NA NA Jan 15 08:30 a.m. Dec 0.1% 0.1% 0.1% Jan 15 08:30 a.m. 01/10 NA NA NA Jan 15 08:30 a.m. Dec -1.7% -1.9% -2.2% Jan 15 10:00 a.m. Jan -35.0 -35.0 -32.9 Jan 16 08:30 a.m. Dec 0.0% 0.1% 0.0% Jan 16 08:30 a.m. Dec -1.0% -1.0% -1.7% Jan 16 09:15 a.m. Dec 74.6% 74.7% 75.4% Jan 16 09:15 a.m. Dec -1.0% -0.8% -0.6% Jan 16 09:55 a.m. Jan 61.0 60.0 60.1
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