Market Analysis

Bonds improved yesterday from the morning lows.  This morning bonds opened slightly negatively and then worsened in late morning trading. 

In economic news in the US, the Conference Board's November Consumer Confidence Index came in better than expected with a reading of 56.0 vs expectations for a 42.5 reading.  In Europe, finance ministers are meeting to discuss using their bailout fund, the European Financial Stability Facility, to guarantee some of the sovereign debt being issued by Euro members who have seen yields spike recently. In Germany a business confidence index rose from Oct to Nov despite the recent turmoil.  Also, 3rd Qtr German GDP growth was reported at .5% with consumer spending in Germany rising .8%.