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Interest Rates Hit Refi Boom Low Again
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June 2, 2005 LOS ANGELES -- On
Wednesday our bond market saw a rally for a second session. This drove long-term
yields low points not seen in the past 14 months.
Some interesting news as far as the Fed and their measured
interest rate hikes is concerned today. For starters, a Fed official made
comments after the manufacturing report was released indicating that the Central
Bank's rate-hike campaign is close to fruition.
On Wednesday the the U.S. dollar crept up to an eight month
high against the euro. This likely can be attributed to preliminary results
indicating that Dutch voters rejected the proposed European Union constitution
by a landslide amount.
Back home, the benchmark 10-year Treasury note jumped 25/32 of
a point to 101-29/32. This brings the yield to 3.89 percent, the lowest since
the first week of April 2004. The U.S. 30-year bond surged 1-15/32 of a point to
117-24/32 bringing a yield of 4.23 percent, this figure down from 4.31 seen in
the first session. - Article by
Stockton Marquette.
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