Austin mortgage pricing worsening as deal has been made between President Obama and BP

Treasuries and mortgage backs are starting to drift lower (higher yields/worsening Austin mortgage pricing) as an apparent deal has been made between the Prez and BP.  Most likely something to do with an escrow account to pay the bills.  Stocks have caught a bid on the rumor.  Bill Gross has also made comments that are getting some attention.  First, he talks about low inflation and economic growth at only 2.0% for the next “several years”.  He also commented that when Pimco gets into the stock market it will be there for 10 to 20 years.  He also bought BP notes to yield 10%.  On balance, his comments are net bullish for bonds.  Heads up for the Obama statement as we are right on the cusp of a worsening price change.

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