Industry News
Mortgage Industry News
Yen Continues to Appreciate
08/30/2010
Personal income and spending printed close to expectations, up 0.2% and 0.4%, respectively. Despite measures by the Bank of Japan to weaken the currency, the yen continues to appreciate against most other major currencies on the view that the credit-easing measures enacted will not be enough. Right now, the futures market is pricing in an 89% chance that the Fed keeps rates between 0% and 0.25% through December 14th, 2010. Currently, the Ten Year yield is at 2.548% (2.54% on Friday) and the 2-10 yield spread is at 207bps, steepening 6bps since Friday morning.
