Industry News
Mortgage Industry News
Today’s Market Color
03/14/2011
To assure financial stability after the 8.9 magnitude earthquake, the Bank of Japan has poured a record amount of cash into money markets today, 15 trillion yen ($183B); they also enlarged an asset-buying program by 5 trillion yen. Despite the steps, stocks are still lower while bonds are trading mildly higher. Right now, the futures market is pricing in about an 82% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.38% (3.39% on Friday) and the 2-10 yield spread is at 278bps, steepening 4bps since Friday morning.
