Industry News
Mortgage Industry News
European Equities Are Higher
07/06/2010
European equities are higher this morning with shares trading at their cheapest levels relative to earnings since 2009. REIT debt yield gapped in June relative to other bonds, showing that the potential economic slowdown has increased fears of more defaults. Right now, the futures market is pricing in a 78% chance that the Fed keeps rates at .25% through November 3rd, 2010. Currently, the Ten Year yield is at 2.97% (2.93% on Friday) and the 2-10 yield spread is at 234bps, steepening 4bps since Friday morning.
