Once again the N. Korean mental midget has decided to use Gunboat diplomacy to sidestep current issues such as the news yesterday exposing the latest nuclear plant and the market has reacted this morning by falling over 100 points on the news. The yield on the 10yr T-Note is down as well to 2.7475% after closing yesterday at 2.8074%. If this holds I would expect to see lender downward price (points) adjust by 0.25% +/- this morning. On top of the Ireland question over the weekend it's just another wait and see moment.
Today's events: Existing home sales, 5-yr T-Note auction, FOMC minutes, FDIC quarterly report on bank earningsTomorrow: MBA mortgage apps, durable goods orders, personal income and spending, jobless claims, consumer sentiment, new home sales, oil inventories, 7-yr note auction; Earnings from Deere and TiffanyTurkey Day: Thanksgiving Holiday — All markets closedFRIDAY: Black Friday — NYSE will have an early close
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