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Today’s Market Color
09/23/2011
Treasuries took a breather today at the opening as prices were mostly unchanged. Since then, we have dropped off giving back some of the gains from yesterday. This week’s historic events have provided shocking price movement as investors have been continuously asking how low can rates go? Only time will tell if the latest moves will be enough to stem the tide of a global economic slowdown. Thankfully, today’s economic calendar is blank and if we are lucky, it will permit weary markets to limp quietly into the weekend. Currently, the 10yr yield is at 1.708% (1.760% Thursday) and the 2-10 yield spread is at 150 bps, flatter by 17 bps since yesterday morning.
