Bond markets opened down but mortgage bonds recovered during the day. US Treasuries remained down but were improved from morning levels. Stocks opened higher but closed lower. The news which drove markets in the morning was this weekend’s announcement by China that they would gradually let its currency rise against the dollar. US exports would be a lower cost to the Chinese with a stronger currency.
Below is a recap of the economic calendar for this week:
Monday, June 21, 2010
Tuesday, June 22, 2010
Wednesday, June 23, 2010
Thursday, June 24, 2010
Friday, June 25, 2010
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