Industry News
Mortgage Industry News
Ford Posts Record Net Income
10/26/2010
Ford posted record net income of $1.69B in the third quarter. On US dollar strength, stocks, bonds, and commodities are all lower. The following auctions are scheduled for this week: $35B 2yr notes today, $35B 5yr notes tomorrow, and $29B 7yr notes on Thursday. Right now, the futures market is pricing in an 87% chance that the Fed keeps rates between 0% and 0.25% through January 26th, 2011. Currently, the Ten Year yield is at 2.61% (2.51% yesterday) and the 2-10 yield spread is at 223bps, steepening 8bps since yesterday morning.
