Industry News
Mortgage Industry News
European Leaders Remain At An Impasse
10/25/2011
Treasury prices are slightly lower this morning as European leaders remain at an impasse. The US economic calendar begins to heat up today with a reading of Oct consumer confidence as well as some housing data. Confidence is expected to increase modestly to 46 from last month’s dreary level of 45.4. Meanwhile, the latest CashShiller report on home prices is expected to show that prices fell at a slower pace of -3.5% vs last month’s -4.1% y/y. That’s hardly anything to cheer about but I guess it is better than the alternative. Lastly, the Oct Richmond Fed Index and FHFA home Price index round out today’s calendar. Currently, the 10yr yield is at 2.248% (2.182% Monday) and the 2-10 yield spread is at 196bps, steeper by 5bps since yesterday morning.
