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Today's Market Color
03/23/2010
There is a summit for European leaders this week to discuss what will be done in regards to the Greek bail-out. At this point, no decision has been made. The euro has declined 10% against the dollar in the last 4 months. 2yr Treasury yields are the highest since January before today's $44B auction. Right now, the futures market is pricing in a 76% chance that the Fed keeps rates at .25% through August 10th, 2010. Currently, the Ten Year yield is at 3.661% (3.69% yesterday) and the 2-10 yield spread is at 270bps, flattening 2bps since yesterday morning.
