The Day Ahead: Advance Q4 GDP Estimate, Consumer Sentiment, QEII Coupon Lift

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Posted To: MBS Commentary

A slim gain pushed the benchmark S&P 500 to its highest level since August 2008 yesterday. On the final day of the week, equities are improved ever so slightly and interest rates are higher as investors await GDP data for the last three months of 2010, as well as consumer sentiment for January. The benchmark 10 year note is -10/32 at 93-11 yielding 3.431%. The FNCL 4.5 is -2/32 at 102-01. S&P 500 futures are up 0.75 at 1296.50 while Dow futures are 10 points higher at 11,954. Year-to-date, the S&P has gained 3.33%. Weighing on the markets is a rating agency warning that the U.S. may lose its triple-A status due to rising debt levels. MND eluded to this headline risk on Tuesday. READ MORE Moody’s Investors Service said it might give the U.S. gilt-edged rating a negative outlook...(read more)

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Source: www.mortgagenewsdaily.com

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