Daily Economic Update for December 13, 2010

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Daily Economic Update for December 13, 2010

  1. 1. Daily Economic Update <ul><li>In anticipation of a stronger-than-expected retail sales season, the yield on the 10-year Treasury rose close to a six-month high. The yield on the 10-year note reached 3.32 percent on December 10 th , up from 2.97 on December 1, and a low of 2.38 percent on October 8th. </li></ul><ul><li>Given the fact that the 10-year Treasury and the 30-year FRM rates mirror each other, mortgage rates can be expected to reach as high as 5.0% by early 2011. </li></ul><ul><li>With the economic recovery showing signs of strengthening, oil prices have been climbing. The Brent nominal oil price hit $90.85 on December 10, a noticeable increase from $85.85 per barrel in November. Meanwhile, the spot price for West Texas Intermediate closed at $87.79 on Friday. </li></ul><ul><li>With global markets growing and the U.S. economy advancing, it would not be surprising if the price per barrel of oil surpasses $100 during the first half of next year. </li></ul>Produced by NAR Research December 13, 2010

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