Industry News
Mortgage Industry News
G7 Intervenes In FX Markets
03/18/2011
The G7 has intervened in the FX markets for the first time since 2000 by selling yen in an effort to stabilize the currency; the yen fell 3.4% against the dollar. China raised reserve requirements for the third time this year to cool inflation. Right now, the futures market is pricing in about a 92% chance that the Fed keeps rates between 0% and 0.25% through August 9th, 2011. Currently, the Ten Year yield is at 3.29% (3.26% yesterday) and the 2-10 yield spread is at 269bps, steepening 4bps since yesterday morning.
