Daily Market Update 6/9/09

Mortgage rates held steady Tuesday following Monday's sell-off in mortgage-backed securities. Investor sentiment shifted in the wake of last Friday's stronger than expected Employment Report. Many investors now believe the Fed need to will raise rates later this year to begin curbing inflation. Treasury Secretary Timothy Geithner testifies today at a budget hearing on Capitol Hill. The Treasury will auction 3-year notes this afternoon at 1:00 PM et. No major economic data will be released today.