Industry News
Mortgage Industry News
Jobless Claims Better than Expected
02/03/2011
Initial and continuing jobless claims printed better than expectations; there were upward revisions to the previous week. Oil and copper are higher as the protests in Egypt have turned more violent. Consensus for tomorrow’s Nonfarm payrolls is +143K. Right now, the futures market is pricing in a 100% chance that the Fed keeps rates between 0% and 0.25% through June 22nd, 2011. Currently, the Ten Year yield is at 3.51% (3.40% yesterday) and the 2-10 yield spread is at 282bps, steepening 3bps since yesterday morning.
