Industry News
Mortgage Industry News
Durable Goods Orders Increase
05/26/2010
Durable goods orders increased more than expected due to rising exports and thin inventories; stocks and commodities are higher, bonds are down. Italy announced $30B in spending cuts, helping push European equities up. Right now, the futures market is pricing in a 76% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.24% (3.12% yesterday) and the 2-10 yield spread is at 241bps, flattening 1bp since yesterday morning.
