Well it's about time!
Looks like we can all take a breather today...thank goodness after what happened to rates yesterday!!
U.S. Treasuries rebounded as some Asian investors said benchmark yields at a five-year high are attractive given the outlook for a slowdown in U.S. economic growth and inflation.
Consumer spending, which accounts for more than two-thirds of the economy, will grow at a 2.2 percent annual rate this quarter, about half the pace of the previous six months, according to the median estimate of economists surveyed earlier this month by Bloomberg News.
Any gains in Treasuries may be limited by stop-loss orders as investors adjust their bond positions.
Greenspan said yesterday historically low premiums on emerging-market debt won't be sustained. As China and other developing economies grow faster ``all of a sudden interest rates go back up'' as they buy fewer Treasuries and invest more in their infrastructure, he said at an event hosted by the Commercial Mortgage Securities Association in New York.
I had a borrower that did not want to lock and 2 weeks ago, I qoted the 5.99%. They locked today at 6.75%
OUCH!
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