Industry News
Mortgage Industry News
Stocks Low On Concern Of Slow Growth
06/06/2011
Stocks and commodities are lower again this morning on concern that growth is slowing. Portugal’s incoming prime minister said that he would form a coalition to meet conditions of the country’s 78B euro ($114B) bailout; Portugal’s debt is trading up on the news. The Treasury is scheduled to auction $32B of 3yr notes tomorrow, $21B of 10yr notes on Wednesday, and $13B of 30yr bonds on Thursday. Currently, the Ten Year yield is at 3.02% (2.96% on Friday) and the 2-10 yield spread is at 258bps, steepening 5bps since Friday morning.
