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Greece News Continues to Affect Market
06/17/2011
The market continues to be subject to the news coming out of Greece. This morning, German Chancellor Merkel said she would work with the ECB to resolve the crisis, suggesting that she would temper the demand that bondholders shoulder a "substantial" share of Greek aid. Stocks are up on the comments; Treasuries and mortgages are slightly softer. Currently, the Ten Year yield is at 2.97% (2.94% yesterday) and the 2-10 yield spread is at 256bps, flattening 1bp since yesterday morning.
