Industry News
Mortgage Industry News
Today’s Market News
02/28/2011
Personal income increased more than expected in January; spending decelerated. The unrest in Libya continues to prop up treasuries, partly due to a flight to quality, and partly due to rising oil prices providing a drag on the economy. ADP (consensus is +180K) and Nonfarm Payrolls (consensus is +190K) are scheduled for release on Wednesday and Friday, respectively, this week. 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 3.41% (3.45% on Friday) and the 2-10 yield spread is at 269 bps, flattening 1bp since Friday morning.
