Industry News
Mortgage Industry News
Bernanke Scheduled to Speak
08/27/2010
2Q GDP was revised down from 2.4% to 1.6%; personal consumption printed better than expected. Fed Chairman Bernanke is scheduled to speak at 10AM and the market is hoping for some sort of announcement regarding quantitative easing to help bolster the economy. Right now, the futures market is pricing in a 94% chance that the Fed keeps rates between 0% and 0.25% through December 14th, 2010. Currently, the Ten Year yield is at 2.54% (2.54% yesterday) and the 2-10 yield spread is at 201bps, flattening 6bps since yesterday morning.
