Industry News
Mortgage Industry News
Global Equities Rally
09/08/2009
Gold broke through the $1,000/ounce threshold, causing global equities to rally; the dollar is down. According to 1,500 equity analysts, S&P 500 companies’ profits will rise 25% next year, signaling that even after the rally, stock prices may be cheap. Right now, the futures market is pricing in a 96% chance that the Fed keeps rates somewhere between 0% and .25% through December 16th, 2009. Currently, the Ten Year yield is at 3.443% (3.39% on Friday) and the 2-10 yield spread is at 253bps, steepening 8bps since Friday morning.
