Industry News
Mortgage Industry News
Nuclear Power Plant Crisis Continues
03/15/2011
Due to the inability to contain the nuclear power plant crisis in Japan, investors have become skittish sending the Nikkei down 10.5% today after a 7.5% sell-off yesterday, the largest two-day drop since the crash in 1987. Saudi Arabian troops have moved into Bahrain in the first cross-border intervention since the uprisings began. Right now, the futures market is pricing in about an 82% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.24% (3.38% yesterday) and the 2-10 yield spread is at 270bps, flattening 8bps since yesterday morning.
