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Today’s Market Color
09/27/2010
The US Treasury Department is rumored to be considering converting their $49B in AIG preferred shares into common stock so that funds can be returned to taxpayers during 2011. US stock futures and bonds are slightly higher in early trading; gold remains above $1,300/ounce. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates between 0% and 0.25% through January 26th, 2011. Currently, the Ten Year yield is at 2.55% (2.58% yesterday) and the 2-10 yield spread is at 212bps, flattening 2bps since yesterday morning.
