Industry News
Mortgage Industry News
Gold at Record High
10/13/2009
With the bond market closed yesterday, equities continued to rally. The dollar is down this morning; oil is up; gold is at a new record- $1,066/ounce. Goldman’s rating was dropped this morning by Meredith Whitney from buy to neutral. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates somewhere between 0% and .25% through January 27th, 2010. Currently, the Ten Year yield is at 3.33% (3.26% on Friday) and the 2-10 yield spread is at 240bps, steepening 7bps since yesterday morning.
