Industry News
Mortgage Industry News
Stocks and Commodities Down
05/25/2010
Stocks and commodities are down after the IMF urged Spain to do more to overhaul its struggling banks; the euro is at a 9-year low against the yen and is down about 1.4% against the dollar; bonds are up. 3-month LIBOR is higher for the 11th day in a row. Right now, the futures market is pricing in a 72% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.163% (3.18% yesterday) and the 2-10 yield spread is at 242bps, flattening 2bps since yesterday morning.
