Industry News
Mortgage Industry News
Reports of Strong Black Friday Sales
11/28/2011
Treasury prices are sharply lower this morning as unconfirmed reports of an IMF loan to Italy have equity price rebounding. US treasuries have outpaced European markets over the last few weeks and the price spreads now seem to be correcting as optimism rises in Europe. In US news, reports of strong Thanksgiving/Black Friday consumer sales have also added additional pressure to treasury prices this morning. This week’s economic calendar is very active with heavy doses of US housing news in the first half of the week followed by the employment news later in the week, including Friday’s Nov non-farm payroll report. Currently, the 10yr yield is at 2.068% (1.915% Friday) and the 2-10 yield spread is at 179bps, steeper by 14bps since Friday morning.
