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Euro Grows Weaker
05/04/2010
The euro is weaker this morning on concern that the bailout of Greece won't stem Europe's debt crisis; debt from Spain, Ireland and Italy is wider and the Spanish stock market is off about 3%. US stocks are down due to a slowdown in Chinese manufacturing, bonds are up. Right now, the futures market is pricing in a 67% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.625% (3.71% yesterday) and the 2-10 yield spread is at 269bps, flattening 3bps since yesterday morning.
