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Today’s Market Color
02/09/2011
Bonds are trading higher this morning on a light day for economic data. Emerging market stocks fell for the fifth day in a row on concerns that inflation is increasing around the globe. The Treasury is scheduled to auction $24B of 10yr notes today at 1pm EST. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.71% (3.66% yesterday) and the 2-10 yield spread is at 288bps, steepening 2bps since yesterday morning.
