Can rates go lower...today will be the day we find out:
Ben Bernanke, chairman of the Federal Reserve, will testify before the U.S. House Budget Committee about economic and financial conditions, and the federal budget. Anytime Mr. Bernanke speaks, his words can have a large impact on the markets. The US Treasury will auction $21 billion 10 year Treasury notes and The Fed's Beige Book is issued today...this data outlines economic conditions around the United States and is used as a point of reference during FOMC meets where our nation’s monetary policy is set.
Our only chance for lower rates hinges on a very strong demand for the 10 yr notes... and of course any new financial termoil in Europe.
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