by Calculated Risk on 6/10/2009 10:46:00 PM

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Daily Summary:

Long rates are rising.

From CNBC: Treasury Holds 'Awful' Auction: 10-Year Yield Hits 3.95%

From the WSJ: Rate Rise Clouds Recovery

On Wednesday, rates on 30-year fixed-rate mortgages climbed to 5.79%, up from 5% two weeks ago, according to HSH Associates. That jump will cut roughly in half the number of borrowers with an incentive to refinance, according to FTN Financial.

From the MBA: Mortgage Rates Increase, Refinance Applications Decline

Here is a cool tool from Political Calculations: Predicting Mortgage Rates and Treasury Yields

Trade Deficit Increases Slightly in April

From the Fed: Beige Book: Economic conditions remained weak or deteriorated further

Economic Calender for Thursday

Retail Sales 8:30 AM ET

Weekly Jobless Claims 8:30 AM ET

Business Inventories 10 AM ET

Fed: Flow of Funds Report 12 PM ET

Hotel Occupancy Report (morning)

Atlanta Federal Reserve Bank President Dennis Lockhart 1:05 PM ET

Futures are up slightly: barchart.com

Bloomberg Futures.

And the Asian markets are mixed.