Orlando Mortgage Blog

S&P this morning has maintained its AAA U.S. rating, but reduced its Treasuries outlook to negative, apparently not certain that "change" is in the cards in the next two years. The 10 year had closed Friday at 3.4135%. Overnight it had hit a recent low of 3.36%, only to climb after the news back up to 3.45% this morning. The DOW doesn't like it either, currently falling 236 points this morning. Rates will start coming out in the next 30 to 45 minutes so though a bump up in points may be expected, time will tell. The DOW reaction may help hold the line.

Update at 12:50 ET:  Saudi Arabia now says there is an over supply, so they plan on cutting back. If that's not proof speculators are on your back everytime you fill your tank, what proof do you need? The 10 year has fallen to 3.38% and the DOW is currently -217.74. Then D.C. calls the S&P report "politics". Is it the pot or the kettle in this case? Right...so it currently looks like no rate change...to about -0.125% on points so far today. Are we finally getting proof of the fourth dimension...the SPECULATOR?