Industry News
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Market Color
08/11/2009
Nonfarm productivity jumped from 0.3% to 6.4% in the second quarter, mainly due to job cuts. China reported a drop in exports and loans, which has pushed European equities and US stock futures down. The Fed starts their 2-day meeting today. Right now, the futures market is pricing in an 80% chance that the Fed keeps rates somewhere between 0% and .25% through November 4th, 2009. Currently, the Ten Year yield is at 3.701% (3.83% yesterday) and the 2-10 yield spread is at 254bps, flattening 4bps since Friday morning.
