Industry News
Mortgage Industry News
European Debt Crisis Remains Undecided
10/20/2011
Treasury prices are modestly lower this morning as the situation in Europe remains undecided. Reportedly, France and Germany have been unable to reach a consensus perspective heading into this weekend’s meeting of EU finance ministers. This week’s busy economic calendar comes to an end today as there no significant data scheduled to be released tomorrow. Today’s weekly jobless claims report showed slightly worse than expected results in both the initial and continuing claims reports. Later this morning, investors will get another dose of housing data in the form of Sept existing home sales, as well as the Philly Fed Survey and the Sept leading indicators report. Currently, the 10yr yield is at 2.192% (2.205% Wednesday) and the 2-10 yield spread is at 192bps, flatter by 2bps since yesterday morning.
