Industry News
Mortgage Industry News
Oil At 2.5 Year High
03/08/2011
Oil remains at a 2.5-year high as the tension in Libya continues. ECB council member Weber reiterated market sentiment that the ECB may raise rates from 1% to 1.75% over the course of this year. The Treasury is scheduled to auction $32B of 3yr notes today, $21B of 10yr notes tomorrow, and $13B of 30yr bonds on Thursday. Right now, the futures market is pricing in about an 82% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.548% (3.54% yesterday) and the 2-10 yield spread is at 279bps, flattening 3bps since yesterday morning.
