Industry News
Mortgage Industry News
Portugal Misses Deficit Target
03/31/2011
Initial jobless claims printed slightly higher than expectations; continuing claims remain elevated at 3,714K; consensus for tomorrow’s Nonfarm Payrolls is +190K. Portugal missed its 2010 deficit target, raising the possibility of a bailout. Right now, the futures market is pricing in about a 91% chance that the Fed keeps rates between 0% and 0.25% through August 9th, 2011. Currently, the Ten Year yield is at 3.41% (3.49% yesterday) and the 2-10 yield spread is at 263bps, flattening 4bps since yesterday morning.
