Industry News
Mortgage Industry News
Jobless Claims Data Mixed
04/08/2010
Jobless claims data was mixed: initial claims printed 25K worse than expectations, continuing claims posted a sizable week-over-week drop. The speculation continues to grow that the Greece bailout will unravel; Greek's 10yr spread against German bunds widened to 436bps. Yesterday's 10yr note auction was strong; the Treasury will auction $13B in 30yr bonds today. Right now, the futures market is pricing in an 83% chance that the Fed keeps rates at .25% through August 10th, 2010. Currently, the Ten Year yield is at 3.86% (3.95% yesterday) and the 2-10 yield spread is at 282bps, flattening 2bps since yesterday morning.
