Industry News
Mortgage Industry News
Today’s Market Color
09/26/2011
Treasury prices are slightly lower this morning as a modest carryover of Friday’s selloff continues. Rumor of an enormous plan to recapitalize European banks seems to be the main driver. In response, investors are shifting money back into equity markets after last week’s carnage. This week’s economic calendar is fairly active with markets focusing on an abundance of Fed appearances throughout the week, including Feb Chairman Bernanke on Wednesday. In terms of data, Wednesday’s durable goods report and Friday’s personal income and spending reports will likely headline the week. Today’s calendar is light with a slightly weaker August new homes sales report expected at 10 AM eastern. Currently, the 10yr yield is at 1.844% (1.708% Friday) and the 2-10 yield spread is at 152 bps, steeper by 2 bps since yesterday morning.
