Industry News
Mortgage Industry News
Better Than Expected Profits
04/29/2010
Both initial and continuing claims fell week-over-week. About 3/4 of the companies announcing earnings in Europe and the US posted better than expected profits, pushing stock indexes higher. The Compass Mandatory/Best Efforts Spread jumped 8bps to 47bps. The Treasury will auction $32B in 7yr notes today. Right now, the futures market is pricing in an 80% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.77% (3.74% yesterday) and the 2-10 yield spread is at 273bps, steepening 2bps since yesterday morning.
