Solutions for your Future...    

APPLY NOW!       1-877-663-7555

  Home    Loan Center    Products    About Us    Resources    Apply Now!  

Market News

    Treasuries rose to the highest since 2005 as concern over subprime mortgage losses led investors to sell stocks and seek the safety of short-term government debt. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

    Yields on two-year notes fell more than 10-year securities as traders increased bets that the Federal Reserve will cut interest rates next month to shore up credit markets. Barclays Plc wrote down $2.7 billion of securities, and Wells Fargo & Co. said it's ``not immune'' to what it said is the worst housing market since the Great Depression.

    "Treasuries are the safe haven,'' said Colin Lundgren, head of institutional fixed income in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Minneapolis at RiverSource Investments, which oversees $100 billion of bonds. "It was last month's writedown, it was last week's writedown, it was yesterday's writedown, it was today's writedown.''