Industry News
Mortgage Industry News
Empire Manufacturing Increases
06/15/2010
Import prices printed slightly higher than expectations, with upward revisions to the previous month; Empire Manufacturing posted a month-over-month increase. Moody's cut Greece's credit rating down 4 grades; the Greek/German 10yr yield spread widened to 605bps. The Compass Mandatory/Best Efforts Spread widened 9bps to 45bps. Right now, the futures market is pricing in a 73% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.275% (3.31% yesterday) and the 2-10 yield spread is at 253bps, flattening 1bp since yesterday morning.
