Thursday’s news on a European bailout package and positive growth numbers from the Philadelphia Federal Reserve manufacturing index gave stocks another boost and continued to take away the flight to safety bid in the U.S. Treasury market. The yield on the 10 year note closed at 3.01%, near the high yield of the day.
This morning we are seeing headlines of renewed concerns on the European bailout so investors are once again moving into U.S. Treasuries, pushing the 10 year yield down to 2.98%. Mortgage prices have improved by .125% to .25%.
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