FNMA 4.5% lost just a few basis points to close the day at $99.69. This is a great place to be after all the erosion we experienced a few weeks ago.


Dollar weakened as China AGAIN put out a statement suggesting that the world needs a "new super-sovereign" currency that will not be subject to the economic fluctuations and political policies of any individual nation. Some say that the "euro" was a nice test in putting together "one" currency for many countries so that the process could be duplicated for a "world currency" ultimately. It looks like we are going to ultimately head that way. Interestingly: the US dollar trading in the currencies market did not AT ALL respond as dramatically as the last time this "super sovereign" currency to replace the US dollar as a global standard of consistency was mentioned.


Oil retreated another dollar back to the 69 dollar range.

30 year rates are trading at the 5.125%