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Reports that S&P is close to downgrading several European countries has lifted the Mortgage Backed Securities markets and hurt the stock market this morning. In the US, Consumer Sentiment jumped to 74.0, above the consensus of 71.0, and the highest level since May. December Import Prices declined 0.1% from November. The November Trade Deficit was larger than expected. The Dow is down 100 points. No more economic data will be released today.
Rich Marra has over 20 years of experience in the mortgage, finance and real estate industries. He previously worked for 6 years at First Equity Direct in Del Mar, CA. Prior to that, Rich was Vice President of Fixed Income and Currency Trading and Sales at Citibank NA and Merrill Lynch. 
