Australian Central Bank raised interest rates .25%, giving a clear signal that their part of the world is starting to recover and that taking fiscal responsibility is the prudent course. Wonder what Bernanke is thinking?
Quiet day in the making as stocks hold most of their gains and bonds, notes, and MBS hold their shade of red. Nothing huge here as the 10 year note is off 5/32’s (yield 3.24%) and mortgage backs on the 4.50% coupon are off a couple of 32’s. Earlier today, the Australian Central Bank raised interest rates .25%, giving a clear signal that their part of the world is starting to recover and that taking fiscal responsibility is the prudent course. Wonder what Bernanke is thinking?