Weekly Market Preview

This Week; Christmas week generally is quiet with little going on and very few players in the markets. No economic releases until Wednesday and Thursday, the markets will be closed on Friday. By 11:00 Thursday the only ones left will be the ones that are charged with turning off the lights. The rate markets are finally rebounding from the swift and deep selling. Last week by the time the bell rang mortgage markets and the 10 yr treasury note were unchanged on the week. Monday should see more improvements but we remain with our view that the path for rates is up, so use the rebound to your advantage.

The data this week includes existing and new home sales for Nov, personal income and spending for Nov and Nov durable goods orders. The outlook for 2011 remains solid in the minds of investors. We are not completely in that camp however; consumers are not as likely to spend as markets presently believe now.