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Mortgage Industry News
Credit Fears Continue In Europe
06/13/2011
Credit fears continue in Europe--Portuguese 10yr yields hit the highest level since the euro started in 1999; the Spanish 10yr yield increased for the sixth consecutive day; credit-default swaps on Greek, Irish, and Portuguese debt are at record highs. Stock futures are pointing higher, while mortgages and Treasuries are trading down. Currently, the Ten Year yield is at 3.01% (2.98% on Friday) and the 2-10 yield spread is at 262bps, steepening 6bps since Friday morning.
