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This second half of this week rates continued to benefit from a series of indicators of weakness in the economic recovery.

1. Federal Reserve release of June minutes - possible need for more stimulus
2. Increase in continuing claims for unemployment, slight drop in PPI
3. Consumer sentiment drops from expectations by 8 points - very large drop

We have seen rate improvement each afternoon, and it may continue through this afternoon.

My video below has my commentary on rates today. The video was befor the consumer sentiment figures were released. I speak briefly about the TVA IRP session last night.