No To "Twist" But A Little "Bump" & "Hustle" |
| September 21, 2011 | September 2011 Bond Updates |
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I am surprised by the lame Fed action. The "Twist" is simply flattening the yield curve. Now that might, in theory reduce mortgage rates, but the scope for making any margin on lending has been reduced again. The 2/10 curve now stands at 167bps (1.86% -0.19%) from 212bps a year ago and 196bps when September began. |
| View more at: http://www.forbes.com/sites/stephenpope/2011/09/21/no-to-twist-but-a-little-bump-hustle/ |
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