Industry News
Mortgage Industry News
Positive Earning Raise Stock Futures
10/22/2010
More positive earnings has US stock futures trading higher while bonds are lower. SanDisk, the largest maker of flash memory cards, had 3Q earnings jump from $0.75/share to $1.30/share, and Schlumberger’s, an oil driller, net income doubled to $1.7B. Right now, the futures market is pricing in an 87% chance that the Fed keeps rates between 0% and 0.25% through January 26th, 2011. Currently, the Ten Year yield is at 2.57% (2.49% yesterday) and the 2-10 yield spread is at 221 bps, steepening 7bps since yesterday morning.
