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Gold Hits New High
06/18/2010
Gold hit a new high in early morning trading; gold looks to be heading for the 10th straight annual increase, the longest run since 1920. Moody's cut BP's credit rating 3 levels to A2. Stocks and bonds are slightly lower this morning. Right now, the futures market is pricing in a 77% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.21% (3.212% yesterday) and the 2-10 yield spread is at 249bps, flattening 3bps since yesterday morning.
