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OGI Mortgage Bankers

Treasures flat 3-18-2011

Friday, March 18, 2011 - Article by: OGI Mortgage Bankers - Message

Treasuries and mortgages started flat very early this morning but prices fell at 8:45 when the foreign minister of Libya announced Libya will halt all military operations, probably due to the UN vote last night for instituting a no-fly zone over the country. When the headline scrolled the DJIA index jumpted to +130 and the 10 yr note which was off 5/32 dropped an additional 8/32 taking the 10 yr yield up to 3.31%. Whether his comments will be taken seriously we will wait and see but it did move markets initially.

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