Daily Market Update 6/8/09

Mortgage rates inched higher Monday as inflation fears continued growing. The Chicago Board of Trade reported investors are now estimating a 36% chance the Fed will raise rates by September in an effort to curb inflation, up from 15% one week ago. This will be a relatively light week in terms of new economic data with the exception of Retail Sales figures on Thursday. Investors are likely to focus on the results of the 10- and 30-year Treasury auctions taking place Wednesday and Thursday. Stocks moved lower, the dollar higher.