Market Analysis

Bonds continue to experience selling pressure.  This week's lower than expected Initial Jobless Claims report in the US and reports that International Monetary Fund is working to increase its ability to provide support for the European financial crisis is causing investors who had been "long" on bonds to question their positions.  Once again the US 10 Yr Treasury note has moved above 2.0%.

In economic news, December Existing Homes sales came in at an annualized pace of 4.61 million which was better than the 4.55 million analysts had expected.