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02/10/2010
The Greece bailout has still not been resolved. Currently, Germany is the front-runner to help Greece roll their debt forward with some sort of debt guaranty. There is a $25B 10yr note auction today. Stock futures and commodities are down; bonds are up. Right now, the futures market is pricing in an 82% chance that the Fed keeps rates somewhere between 0% and .25% through June 23rd, 2010. Currently, the Ten Year yield is at 3.651% (3.61% yesterday) and the 2-10 yield spread is at 280bps, flattening 1bp since yesterday morning.
