Industry News
Mortgage Industry News
Retail Sales Up 5.5%
12/28/2010
According to MasterCard Advisors’ SpendingPulse, retail sales for the 11/5-12/24 time period were up 5.5% year-over-year to $584B. The dollar is down pre-S&P/Case Shiller on the expectation that housing prices may have declined. The Treasury is scheduled to auction $35B of 5yr notes today and $29B of 7yr notes tomorrow. Right now, the futures market is pricing in an 85% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.33% (3.40% yesterday) and the 2-10 yield spread is at 264bps, flattening 6bps since yesterday morning.
