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Ben Bernanke Wins Second Term
01/29/2010
4th quarter GDP printed much higher than expectations, 5.7%-the fastest pace in six years, due largely to inventory build-ups. Bonds are down; stocks and commodities are rallying. Ben Bernanke officially won his Senate approval for a second term as Fed chairman yesterday. Right now, the futures market is pricing in an 88% chance that the Fed keeps rates somewhere between 0% and .25% through June 23rd, 2010. Currently, the Ten Year yield is at 3.627% (3.63% yesterday) and the 2-10 yield spread is at 276bps.
