Industry News
Mortgage Industry News
Today’s Market Color
09/01/2010
ADP printed worse-than-expectations‚ -10K vs. +15K; consensus for Friday’s Nonfarm payrolls is -100K. Manufacturing data in China surprised to the upside; equities are up‚ mortgages and Treasuries are lower. Right now‚ the futures market is pricing in a 92% chance that the Fed keeps rates between 0% and 0.25% through December 14th‚ 2010. Currently‚ the Ten Year yield is at 2.59% (2.49% yesterday) and the 2-10 yield spread is at 204bps‚ steepening 4bps since yesterday morning.
