Facts That Make A Difference
1. PEAK RATES - During the last 3 years (i.e., 2006-08), the highest yield achieved by the 10-year Treasury note in each of those years took place during the month of June. The 2006 peak yield took place on 6/28/06, the 2007 peak yield took place on 6/12/07 and the 2008 peak yield took place on 6/13/08 (source: Treasury Department).
2. PULLING IN YOUR HORNS - The personal savings rate in the USA at the end of April 2009 was 5.7%. Just over a year earlier (i.e., 3/31/08), the nation’s personal savings rate was 0.2% (source: Commerce Department).
3. MUCH PAIN – Our unemployment rate was 9.4% as of the end of May 2009, representing 14.5 million idled Americans. As of May 2008, our unemployment rate was 5.5%, equal to 8.5 million workers without a job (source: Department of Labor).
4. THE BIGGER THEY ARE… - 5 of the 8 largest corporate bankruptcies in US history (as measured by assets at the time of filing) have occurred in the last 9 months (source: BankruptcyData.com, Denver Post
5. PITCHED - 75% of subprime mortgages originated in 2006 were packaged together into bonds and sold to investors, i.e., they were securitized (source: Federal Reserve Bank of St. Louis
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