Industry News
Mortgage Industry News
First TIme On Record
07/19/2010
Earnings reports and rumors of four $1B+ takeovers have equities rallying in early trading. For the first time on record, central banks, mutual funds and US banks are buying more Treasuries at auction than Wall Street bond dealers, 57% this year compared to 45% one year ago. Right now, the futures market is pricing in an 82% chance that the Fed keeps rates at .25% through November 3rd, 2010. Currently, the Ten Year yield is at 2.943% (3.01% on Friday) and the 2-10 yield spread is at 236bps, flattening 2bps since Friday morning.
