Industry News
Mortgage Industry News
European Debt Concerns Grow
07/11/2011
Treasury prices are surging higher this morning on continued European debt concerns, specifically that the problem may spread to Italy. With an economic calendar that is bereft of data today, investors will get more time to assess the European debt crisis as well as to digest Friday’s woeful employment report. The economic calendar for the rest of the week is fairly active with key data including tomorrow’s release of FOMC meeting notes, Thursday’s PPI and Retail Sales reports and Friday’s CPI data. Currently, the Ten Year yield is at 2.63% (3.06% Friday) and the 2-10 yield spread is at 258bps, flattening 7bps since Friday morning.
