Daily Commentary by Larry Baer: Treasury debt obligations and mortgage-backed securities crept higher this morning after Italy's 3-billion euro 5-year bond sale drew puny demand from the global investment community.
The deteriorating financial situation in the euro-zone threatens to produce a major world-wide economic crisis. As long as the threat of a euro-zone collapse prevails -- dollar denominated assets will be broadly favored as a place to safely park capital - and that is good news for the prospects of steady to perhaps fractionally lower mortgage interest rates here in the States.
THE MARKET IS ALWAYS RIGHT! . YOU AND I ARE SOME OF THE TIME
