Industry News
Mortgage Industry News
Jobless Claims Continue to Struggle
09/23/2010
Initial and continuing jobless claims printed worse than expectations. Yield on government bonds from Ireland and Portugal widened relative to Germany’s on concern that they won’t be able to repay their debt; European stocks and US stock futures are down. Right now, the futures market is pricing in an 85% chance that the Fed keeps rates between 0% and 0.25% through January 26th, 2011. Currently, the Ten Year yield is at 2.532% (2.54% yesterday) and the 2-10 yield spread is at 208bps, flattening 3bps since yesterday morning.
