Industry News
Mortgage Industry News
Stocks Are Up
02/09/2010
UBS announced 4th quarter net income of 1.21B francs, the first profitable quarter since 3Q of 2008, even as wealthy clients continued to withdraw funds at an accelerated rate. There is a $40B 3yr note auction today. Stock futures and commodities are up; bonds are down. Right now, the futures market is pricing in a 92% chance that the Fed keeps rates somewhere between 0% and .25% through June 23rd, 2010. Currently, the Ten Year yield is at 3.61% (3.58% yesterday) and the 2-10 yield spread is at 281bps, steepening 1bp since yesterday morning.
