Industry News
Mortgage Industry News
Retail Sales Increase
05/12/2011
Initial and continuing claims printed higher than expectations, along with upward revisions to the previous week. Retail Sales increased 0.5%. The Treasury is scheduled to auction $16B in 30yr bonds today. 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 3.18% (3.22% yesterday) and the 2-10 yield spread is at 264bps, steepening 1bp since yesterday morning.
