Stock futures are tumbling this morning as concerns grow regarding the tension between South and North Korea, and news from Spain that regulators are urging banks to merge with stronger partners to help ease investor concerns.
The US Treasury begins this week’s auctions with the 2 year note today, followed by 5 year and 7 year note auctions Wednesday and Thursday. Interestingly US treasuries are not seeing the significant flight to quality this morning given the steep decline in stocks. Mortgages are approximately .125% better in price.
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