Industry News
Mortgage Industry News
Today’s Market News
08/02/2011
With the debt cap situation nearing completion, focus has shifted back across the Atlantic to the debt woes of Europe. Treasury prices are surging higher this morning on a renewed flight to quality bid as Italy and Spain are under the microscope. Meanwhile, the news isn’t much better in the US as early morning data showed that consumer spending in the US unexpectedly fell by -0.2% vs estimates of a +0.2% increase. Currently, the 10yr yield is at 2.708% (2.803% Monday) and the 2-10 yield spread is at 236bps, flatter by 9bps since yesterday morning.
