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Mortgage Industry News
Stocks Rallying
12/29/2009
Commodities and stocks are rallying on sentiment that the economic expansion will continue into 2010. After a mediocre 2yr note auction yesterday, the Treasury will auction $42B in 5yr notes today with yields at their highest point since August. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates somewhere between 0% and .25% through April 28th, 2010. Currently, the Ten Year yield is at 3.850%(3.84% yesterday) and the 2-10 yield spread is at 275bps, flattening 8bps since yesterday morning.
