Industry News
Mortgage Industry News
Trade Deficit Narrowed
10/10/2009
The trade deficit narrowed in August as exports climbed. In a sign that other economies are improving, Canada’s jobless rate fell to 8.4%. With conditions in the muni bond market getting better over the last few months, California was able to issue $4.1B in debt at around a 5% yield. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates somewhere between 0% and .25% through January 27th, 2010. Currently, the Ten Year yield is at 3.356% (3.20% yesterday) and the 2-10 yield spread is at 233bps, steepening 2bps since yesterday morning.
