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Tuesday, December 08 2009 00:00 |
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Treasury Rates Slip on Greece
Ten year Treasury rates rose from last Tuesday’s low of 3.21 based on the Dubai shock, to Friday’s high of 3.48%, based on surprisingly favorable employment numbers.
Treasuries have since backed down with Greece’s recent credit downgrade as investors once again sought the safety of US Treasuries. The Market also had second thoughts on the employment numbers: they are widely expected to be revised downward.
On the Bank front, we are seeing banks express a hunger for deals. Several Banks lowered their hybrid rates and spreads. Luther Burbank Savings, a major wholesale source for Harris, lowered their hybrid rates for the second time in a month.
Bankers are insisting on every piece of paper for their files. Two Bankers referred to recent audits. They are looking over their shoulders at regulators.
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