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Kraft to Purchase Cadbury
01/19/2010
Bonds are trading lower this morning on a relatively light day for economic data. Citigroup posted a 4th quarter loss of $7.6B after booking an $8B pretax charge for repaying $20B in bailout funds, and after four months of negotiations, Kraft agreed to purchase English chocolate maker Cadbury for $19.7B. Right now, the futures market is pricing in a 87% chance that the Fed keeps rates somewhere between 0% and .25% through April 28th, 2010. Currently, the Ten Year yield is at 3.702% and the 2-10 yield spread is at 281bps, increasing 3 bps since Friday morning.
