Industry News
Mortgage Industry News
Retail Sales Are Up
09/15/2009
Retail sales posted a 2.7% increase, the most in 3 years; bonds are off. The Treasury and Citigroup have reportedly begun discussions for how the US will sell the 34% stake in the bank. There is currently a $9.77B paper profit for the government. Right now, the futures market is pricing in a 96% chance that the Fed keeps rates somewhere between 0% and .25% through December 16th, 2009. Currently, the Ten Year yield is at 3.42% (3.38% yesterday) and the 2-10 yield spread is at 253bps, steepening 5bps since yesterday morning.
