Industry News
Mortgage Industry News
Global Equities
10/05/2009
Global equities were down after Nouriel Roubini predicted that the economic recovery would disappoint investors and that “markets have gone up too much, too soon, too fast”. Goldman raised its view on big banks including Wells Fargo, JP Morgan, and Bank of America from “neutral” to “attractive”, saying that share prices don’t reflect the companies’ prospects for earnings growth. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates somewhere between 0% and .25% through January 27th, 2010. Currently, the Ten Year yield is at 3.19% (3.14% on Friday) and the 2-10 yield spread is at 232bps, steepening 2bps since Friday morning.
