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Ford Posts Strong 2Q
07/23/2010
Ford posted a $2.6B 2Q profit, $0.68/share, beating the $0.41/share consensus; England's GDP grew at a faster clip than expected, 1.1% vs. 0.6%; German business confidence hit a 3-year high. Stocks are up this morning, bonds are lower. Right now, the futures market is pricing in an 88% chance that the Fed keeps rates at .25% through November 3rd, 2010. Currently, the Ten Year yield is at 2.956% (2.91% yesterday) and the 2-10 yield spread is at 241bps, steepening 7bps since yesterday morning.
