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European Debt Crisis Effects Stocks
05/20/2010
Initial and continuing claims printed higher than expectations. Stocks are pointing down for the sixth consecutive day as concerns still are centered around the European debt crisis; German parliament is scheduled to vote tomorrow on the country's share of the $1T bailout package. Right now, the futures market is pricing in a 71% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.242% (3.38% yesterday) and the 2-10 yield spread is at 254bps, flattening 7bps since yesterday morning.
