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IMF Raises Global Growth Estimate
07/08/2010
Initial and continuing jobless claims printed better than expected. The IMF raised their global growth estimate from 4.2% to 4.6%, yet warned that the financial market turmoil has added risks to the recovery. US Stock futures are up, bonds are lower. Right now, the futures market is pricing in a 78% chance that the Fed keeps rates at .25% through November 3rd, 2010. Currently, the Ten Year yield is at 3.02% (2.93% yesterday) and the 2-10 yield spread is at 238bps, steepening 6bps since yesterday morning.
