Another big sell off in stocks sparked a flight to safety rally in bonds pushing the yield on 30 year treasuries to an all-time low of 2.243%. The benchmark 10 year note yield recorded its largest one month decline since mid-2011 now at 1.673%. The catalyst behind the move was a much lower than expected 2.6% increase in 4th quarter GDP. Conforming no point 30 year fixed mortgage rates average 3 5/8ths with 15 year rates closer to 2 7/8ths.
And now for something completely different… Did you know that there is only one ATM machine in the world that is capable of giving instructions in Latin. This one and only Latin speaking ATM machine is in Vatican City.
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This is Mehran Aram with today's ARAMCO Report.