The potential for contagion in the Euro zone remains a headline today as the EU continues to develop a resolution to the debt issues of Greece, Portugal, possibly Spain, and a few other countries.
The main event on Wednesday was the fed announcement reassuring the markets that interest rates would remain low for an extended period of time. Bond prices declined on the news, however the U.S. bond market is steady this morning with mortgage prices about .125% better.
The last scheduled item of the day that could be market moving is the $30+ billion of 7 year notes will be auctioned by the U.S. Treasury today, the last leg of this week’s auctions.
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