Industry News
Mortgage Industry News
Greece - IMF Bailout
04/06/2010
In a change of events, Greece "isn't keen on the IMF being involved in any bailout". This news spooked investors and Greek bonds are down sharply; the euro is down against 14 other currencies. This news has also caused a flight to quality with US fixed income up. The Treasury will auction $40B in 3yr notes today. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates at .25% through August 10th, 2010. Currently, the Ten Year yield is at 3.95% (3.95% yesterday) and the 2-10 yield spread is at 280bps, flattening 1bp since yesterday morning.
