It’s Bill Rapp, the Mortgage Viking here, let me tell you about what the Good Ole
Boys on Wall Street are talking about today…
Bank earnings are giving a boost to equity markets this morning as Bank of
America and Goldman Sachs both came in better than expected.
With better risk sentiment, Treasuries are facing modest selling pressure this
morning as the 10Y yield has moved up to 2.74%, from a low of 2.68% yesterday.
Despite all the talks of an economic slowdown, investors are falling over
themselves to buy high yield bonds.
Credit spreads in high yield bonds aren’t terribly attractive both on an historical
basis, and probably for this stage of the credit cycle, wider credit spreads over the
last 6 weeks have been attractive relative to equities.
This is Bill Rapp, the Mortgage Viking, and please do not forget to subscribe and
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