Bonds are trading higher this morning after Treasury Secretary Paulson put the weight of the Federal government behind ailing Fannie Mae and Freddie Mac. Paulson asked Congress for authority to buy unlimited stakes in and lend to the companies, aiming to stem a collapse in confidence.
There are no scheduled economic reports due for release today, but tomorrow will be action packed, with several heavyweight reports coming, including the inflation-measuring Producer Price Index as well as the Retail Sales.
