Industry News
Mortgage Industry News
Treasury Prices Higher
08/08/2011
Treasury prices are higher today as overseas equity markets are selling off after Friday’s S&P downgrade of US debt. Ironically, the downgrade has created a flight to quality bid as the announcement spooked investors to move assets into safer investments, including US Treasuries. With no economic releases scheduled to be released today, investors will be left to debate the merits of the downgrade. Currently, the 10yr yield is at 2.496% (2.449% Friday) and the 2-10 yield spread is at 222bps, steeper by 6bps since Friday morning.
