Gold surged to a new high this morning, topping $1,250/oz. as concerns regarding the European economies lingers, and the Euro its price decline. Monday, U.S. stocks continued their decline giving bond prices another reason to improve---this scenario has reversed slightly this morning.
Bond prices are trailing off slowly in front of the U.S. auction of $38 billion of 3 year notes, as well as anticipating Wednesday’s 10 year note auction. This auction is likely to find some headwinds as the 10 year note currently yields 3.18%, and the market has not seen a 10 year auction below the 3.20% yield since November 2009.
For today, take advantage of the market---low interest rates and attractive home prices make this a great buying season!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment