Industry News
Mortgage Industry News
Stock Futures Down After Job Report
04/14/2011
Initial jobless claims jumped last week from 385K to 412K, however, continuing claims dropped 58K. Stocks futures and commodities are lower after the news, while Treasuries and mortgages are up. The Treasury is scheduled to auction $13B of 30yr notes today. Right now, the futures market is pricing in about a 92% chance that the Fed keeps rates between 0% and 0.25% through August 9th, 2011. Currently, the Ten Year yield is at 3.43% (3.54% yesterday) and the 2-10 yield spread is at 272bps, flattening 4bps since yesterday morning.
