Industry News
Mortgage Industry News
England To Tax Bank Balance Sheets
06/22/2010
UK Chancellor Osborne announced that England will start to tax bank balance sheets next year to generate an extra 2B pounds in revenue to help close the budget deficit. The Fed begins their two day meeting today; they are expected to leave rates unchanged but the market will likely be more focused on the language that the Fed uses as to when they may raise rates. Currently, the Ten Year yield is at 3.223% (3.30% yesterday) and the 2-10 yield spread is at 250bps, flattening 5bps since yesterday morning.
