Industry News
Mortgage Industry News
Today’s Market Color
01/13/2012
Treasury prices are moving higher this morning as EU debt fears resurfaced after mixed results from Italian debt auctions. 1.90% is the new 2.00% for the 10yr yield as it continues to gravitate to this new lower level. News out of the EU has remained sparse but the commitment to keep Greece in the EU seems to be weakening. Today’s economic calendar is fairly busy with reports including Nov trade balance, import/export prices and Univ Michigan consumer sentiment. November’s trade deficit increased more than expected and represents the first increase since June of last year. Later this morning, consumer confidence is expected to increase to 71.5 from December’s level of 69.9. Currently, the 10 year yield is at 1.895% (1.900% Thursday) and the 2-10 yield spread is at 167bps, 1 bps flatter since yesterday morning.
