Money Market Recap & Forecast from the Daily Communicator
April 19th, 2010
Written by Frost Mortgage
Categories: Economy, Monday Money Market Recap & Forecast, Mortgage Banker News, Mortgage News
Considering the flood of economic reports released last week, the yield on the benchmark 10-year note held steady. But when the SEC leveled fraud changes on Goldman Sachs Friday morning, stocks tumbled and money headed for the safety of Treasuries. The yield on the 10-year note fell to 3.77% — close to a three-week low.
Earnings season began Monday, and it will affect bonds. Cautious corporate forecasts should keep investors in Treasuries, but favorable outlooks could set a path for economic recovery and riskier investments, leaving bonds in the dust. Early earnings reports were mostly impressive.
February’s U.S. trade deficit widened to $39.7 billion, with imports growing faster than exports. Tuesday’s report, however, showed prices were under control.
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