Industry NewsMarkets & Economy

Read between the lines in Wall Street’s script

Commentary: Financial song and dance borrows from 'The Producers'
Published on Apr 23, 2010

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by CareyBot

Long-term rates -- the ones guaranteed to rise -- fell again. The 10-year Treasury note made it briefly to 3.73 percent, with the 30-year-fixed mortgage rate holding steady at just above 5 percent for the week.

The action was largely due to Greek default, the possibility of a failed bailout (see "'Bazooka Backstop' targets mortgage mess" -- the dud in summer '08) and contagion to the rest of the Europe's "Club Med" nations (see "The debt is a real threat"). Today's Euro-zone assistance is holding, for the moment.