Industry News
Mortgage Industry News
Retailer Earnings Strong
01/07/2010
Continuing claims dropped significantly week-over-week from 4.98MM to 4.8MM; consensus for tomorrow's Nonfarm Payrolls is no change. Earnings at Sears and a few other retailers were stronger than expectations. In yesterday's release of the Fed minutes, officials said that more stimulus "might become desirable at some point". Right now, the futures market is pricing in an 81% chance that the Fed keeps rates somewhere between 0% and .25% through April 28th, 2010. Currently, the Ten Year yield is at 3.808(3.77% yesterday) and the 2-10 yield spread is at 281bps, steepening 7bps since yesterday morning.
