Stock markets have opened up with a great deal of optimism after US accounting policymakers agreed to relax mark to market accounting rules. Many investors view today's FASB decisions as an indication that stock markets have hit bottom and a recovery has indeed begun. The proposed changes will take effect in 2Q 2009 but will allow most companies to make adjustments to 1Q balance sheets.

All major stock indices are up over  2 percent and looking to push higher.

Mortgages continue to trade in a government funded world of their own while TSY traders are having technical difficulties as they balance optimism in equities and the expected employment atrocities to be released tomorrow morning.

from 5pm "Going Out" Marks...

FN30_______________________________

FN 4.0 -------->>>> -0-04 to 100-12 from 100-16

FN 4.5 -------->>>> -0-03 to 102-01  from 102-04

FN 5.0 -------->>>> -0-01 to 103-04 from 103-05

FN 5.5 -------->>>> +0-00 to 103-26 from 103-26

FN 6.0 -------->>>> -0-01 to 104-14 from 104-15

GN30________________________________

GN 4.0 -------->>>> -0-04 to 100-17  from 100-21

GN 4.5 -------->>>> -0-03 to 102-05 from 102-08

GN 5.0 -------->>>> -0-01 to 103-20  from 103-21

GN 5.5 -------->>>> +0-00 to 104-04 from 104-04

GN 6.0 -------->>>> +0-00 to 104-18 from 104-18