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Indecisiveness In Europe Moves Investors
10/04/2011
The pendulum swung back to fear yesterday as treasury prices rallied on weakness in equities. Prices continue to whipsaw as indecisiveness in Europe spooked equity investors. Economic data is light today with only the Aug factory orders report due to be released (expected unchanged vs +2.4% July). However, Fed speak will be closely watched with Fed Reserve Governor Raskin and Fed Chairman Bernanke scheduled to make appearances today. Currently, the 10yr yield is at 1.749% (1.884% Monday) and the 2-10 yield spread is at 150bps, flatter by14 bps since yesterday morning.
