July 13th, 2010 11:07 AM by BILL WILBANKS
Couple agenda items today. Early morning May Goods and Services Trade Balance report due out. Not much expected unless major move from forecast. Then a 10 year Treasury Note auction today. Watch to see if the sale is met with strong demand and if so may see afternoon improvement on rate. If buyers sit on the sidelines, may see bonds fall after the 1 PM posting and rates move higher. Points down slightly on first rate sheet allowing a 4.375% rate quote on a 30 day purchase even though the DOW is up by over 100 points and the 10 year is also up at 3.0808% after closing at 3.0591% yesterday.