With yesterday’s 10 year auction of government bonds long term yields moved up by banks in reaction to the yield spread of long term reacting to the auction. In addition to the many other factors such as some BRIC economies such as Russia and Brazil will start buying more IMF debt rather than U.S. does not sit well with future demand for U.S. debt. Remember if you are buying, selling, or refinancing want to see demand for U.S. debt. This drives the bond price up and the yields down. Making consumer loans cheaper, and more affordable to live in.

On a better note today’s long term auction seen foreigners buying 46% of U.S. treasuries today. This was reassuring but yields are not really coming down as far as we the consumer would like to see to barrow money cheaper.

With looking ahead yields don’t look like they will be as low as they were a month ago, but if they move higher this will keep us in recession and there is no light at the end of the tunnel. To see the light rates need to stay low, and there are no signs so far.

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Aldo Grillo
New York Real Estate Sales Agent
Charles Rutenberg Realty Inc.
P: 718-701-5650
C: 917-841-3805
F: 718-701-5650
Email: aldo@NewYorkRealEstateValue.com
Web: www.NewYorkRealEstateValue.com

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