Industry News
Mortgage Industry News
Yields On European Bonds Climb
11/15/2011
US treasuries were well bid overnight as yields on European bonds continue to climb. New Italian Prime Minister Monti is reportedly running into opposition as he attempts to fill leadership position within his new cabinet. This week’s US economic calendar got underway today with a slew of reports at 8:30. The Nov Empire Manufacturing report showed an unexpected increase of +0.61 vs estimates of a -2.1 decline. Meanwhile, October retail sales posted better than expected results (+0.5% actual vs +0.3 est) and the m/m PPI ex Food and Energy was in line with expectations of a +2.8% increase. Currently, the 10yr yield is at 2.031% (2.089% Monday) and the 2-10 yield spread is at 179bps, flatter by 7bps since yesterday morning.
