Industry News
Mortgage Industry News
Stock Futures Up
05/31/2011
Stock futures are higher this morning due to speculation that nations will pledge more aid to Greece; Treasuries and mortgages are slightly lower. ADP is scheduled for release tomorrow (consensus is +175K) and Nonfarm Payrolls will be announced on Friday (+180K). Right now, the futures market is pricing in about an 83% chance that the Fed keeps rates between 0% and 0.25% through September 20th, 2011. Currently, the Ten Year yield is at 3.09% (3.10% on Friday) and the 2-10 yield spread is at 261bps, steepening 1bp since Friday morning.
