Daily Market Update 6/10/09

Mortgage rates inched higher Wednesday ahead of this afternoon's $19 billion auction of 10-year Treasury notes. Russia announced plans to reduce their share of US debt in reserve holdings, pressuring longer-term yields. The Fed's Beige Book, a survey of economic conditions by the Federal Reserve's 12 regional banks, will be released at 2:00 PM. Oil prices rose above $70 per barrel. Stocks moved modestly lower. Retail Sales figures for May will be released tomorrow morning.