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For those who are watching interest rates, this week will be full of Federal Reserve watching. Every day this week one of the Fed Presidents is scheduled to speak.

Today Chairman Bernanke talked about the US budget deficit and the troubling global trade imbalance. It may be a good sign that he is starting a focus on the deficit, now over $1.4 trillion. It may mean that he is confident the economy is turning.

Analysts expect that new housing starts will show an up turn tomorrow.

The news may give interest rates some upward pressure, but they held steady today.