Friday, November 28, 2008

Five and Less Than Three
The Dow extended its gains to five days. It is the first time since July 2007 - before the credit crisis started - that the Dow has put together five consecutive up days. The ten-year Treasury dropped below 3% today, ending at 2.96%. This is near its lowest levels since daily tracking began in 1962. I know this low rate indicates deflation, but to me if it translates into lower mortgage rates it may spur the housing market.

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