The 10-year yield is down this morning as mortgage-backed securities have gained slightly from their close yesterday. Also, German Chancellor Angela Merkel insists Germany and France will aggressively persuade Greece to make the needed changes to its economy to rectify their debt crisis, while Greek Prime Minister Antonis Samaras is in Berlin today.
Treasuries were up yesterday as speculation that Hurricane Sandy is going to hinder economic growth. You may hear some argue that destructive events, like Sandy, provide a short term economic stimulus, since large sums of money are needed to pay for repairs. However, the extra flow of money spent on repairs only replaces the capital stock that was lost in the catastrophe, and does not represent economic growth.
What’s Up on Wall Street?
The Dow Jones Industrial Average increased 113.43 points (0.87%) while the Nasdaq rose 19.71 points (0.66%). Also, the S&P 500 went up 7.89 points (0.56%).
Here are some of today’s rates:
Here are a few links to some of today’s financial articles. Be sure to leave a comment below if you know of any additional financial articles that are trending today.