Industry News
Mortgage Industry News
Jobless Claims Drop
12/23/2010
Bonds are trading lower this morning in a shortened trading session with the market scheduled to close at 2PM EST. Initial Jobless Claims fell by 3K to 420K for the week ending December 18th, which was in line with analyst’s expectations. The Irish Government took over Allied Irish Banks Plc without shareholder approval, making it the 4th bank to come under state control. Right now, the futures market is pricing in an 85% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.37% (3.31% yesterday) and the 2-10 yield spread is at 272bps, steepening 2bps since yesterday morning.
