Industry News
Mortgage Industry News
Treasury Prices Mostly
12/29/2011
Treasury prices are mostly unchanged today after EU debt concerns reignited the flight to quality bid yesterday. An overnight Italian debt auction received mixed reviews but the lackluster performance was not too surprising given the proximity to yearend. The economic calendar is fairly active on the last full trading day of 2011. The weekly jobless claims report showed worse than expected results in both the initial and weekly claims reports. Today’s report ends the recent positive trend that formed over the last several weeks as claims had dipped to lows not seen since earlier in the year. Later this morning, the economic calendar brings the Dec Chicago PMI report and the Nov US pending home sales report. This will essentially wrap up the economic calendar for the year as tomorrow’s docket is clear. Currently, the 10 year yield is at 1.925% (1.989% Wednesday) and the 2-10 yield spread is at 165bps, flatter by 5bps since yesterday morning.
