Industry News
Mortgage Industry News
Modest November Retail Sales
12/13/2011
Treasury prices are opening slightly lower this morning as markets were relatively quiet overnight. The US economic calendar takes center stage today as markets are focused on this afternoon’s FOMC rate decision. As usual, investors will scan the FOMC statement to looking for potential policy changes, including possible hints for QE3. Meanwhile, the calendar has already produced a disappointing report on Nov retail sales. Month over month sales improved a modest 0.2% versus expectations of a more robust 0.6% gain. Currently, the 10yr yield is at 2.047% (2.017% Monday) and the 2-10 yield spread is at 181bps, steeper by 1bps since yesterday morning.
