Industry News
Mortgage Industry News
Jobless Claims Drop Sharply
02/11/2010
Initial and continuing jobless claims dropped sharply week-over-week. Euro-region leaders demanded that Greece get the bloc's highest budget deficit under control and said they are prepared to take "determined" action to stem the currency's worst crisis in its 11 year history. There is a $16B 30yr bond auction today. Right now, the futures market is pricing in an 81% chance that the Fed keeps rates somewhere between 0% and .25% through June 23rd, 2010. Currently, the Ten Year yield is at 3.734% (3.63% yesterday) and the 2-10 yield spread is at 283bps, steepening 3bps since yesterday morning.
