Industry News
Mortgage Industry News
German Investor Confidence Rising
08/18/2009
PPI printed lower than expectations due to falling energy prices; housing starts and building permits fell slightly from last month. German investor confidence rose more than expected, pushing European equities and US stock futures up. Home Depot beat profit expectations due to cost-cutting; sales were down sharply. Right now, the futures market is pricing in a 90% chance that the Fed keeps rates somewhere between 0% and .25% through December 16th, 2009. Currently, the Ten Year yield is at 3.500% (3.50% yesterday) and the 2-10 yield spread is at 246bps, flattening 1bp since yesterday morning.
