Industry News
Mortgage Industry News
Jobless Claims Continue to Drop
06/10/2010
Both initial and continuing jobless claims dropped week-over-week; the trade deficit printed at the widest level in a year. Stocks and commodities are higher, bonds are lower in early trading. The Treasury is scheduled to auction off $13B in 30yr bonds today. Right now, the futures market is pricing in a 75% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.257% (3.22% yesterday) and the 2-10 yield spread is at 248bps, steepening 2bps since yesterday morning.
