Industry News
Mortgage Industry News
Today's Market Color
07/27/2010
UBS and Deutsche posted better-than-expected earnings, sending equities higher in early trading; bonds are lower. There is a $38B 2yr note auction today, a $37B 3yr note auction tomorrow, and a $29B 7yr note auction on Thursday. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates at .25% through November 3rd, 2010. Currently, the Ten Year yield is at 3.04% (2.99% on yesterday) and the 2-10 yield spread is at 240bps, steepening 1bp since yesterday morning.
