Industry News
Mortgage Industry News
Middle East Unrest - Oil Rises
03/01/2011
The turmoil continues to spread in the Middle East as Iran arrested opposition leaders to derail scheduled protests; Iran is the second-largest OPEC producer- oil is up about 1%. ADP (consensus is +175K) and Nonfarm Payrolls (consensus is +190K) are scheduled for release tomorrow and Friday, respectively. Right now, the futures market is pricing in about an 86% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.47% (3.41% yesterday) and the 2-10 yield spread is at 276 bps, steepening 7bps since yesterday morning.
