Industry News
Mortgage Industry News
Cost of Insuring Bank Debt Falls
07/09/2010
European equities are up, again, this morning on optimism that the global recovery will continue; commodities are up; the cost of insuring bank debt fell to the lowest levels in eight weeks; US debt is also higher. Right now, the futures market is pricing in a 77% chance that the Fed keeps rates at .25% through November 3rd, 2010. Currently, the Ten Year yield is at 3.056% (3.02% yesterday) and the 2-10 yield spread is at 240bps, steepening 2bps since yesterday morning.
