Industry News
Mortgage Industry News
Today’s Market Color
11/29/2011
Treasury prices are modestly lower this morning after Italy successfully raised EUR7.5bln in the latest auction, albeit at elevated yields. Yesterday, treasuries retraced early losses as reports of an IMF loan to Italy were denied and strong Black Friday sales reports were tempered by news that retailers had lured consumers with steep discounts. Today’s economic calendar brings round two of the three straight days of housing data. The S&P/CaseShiller home price index is expected to remain unchanged at 0.00% m/m. On a y/y basis, prices are expected to have decreased at a slower pace of - 3.0% vs the previous month’s level of -3.8%. Lastly, consumer confidence is expected to improve to 44 from October’s dismal level of 39.8. Currently, the 10yr yield is at 1.988% (2.068% Monday) and the 2-10 yield spread is at 173bps, flatter by 6bps since yesterday morning.
