Industry News
Mortgage Industry News
Stock Futures Up Sharply
05/06/2011
Nonfarm Payrolls printed better than expected at +244K; change in private payrolls was +268K; the unemployment rate and U6 ticked up 2/10ths to 9.0% and 15.9%, respectively; . Consensus for Nonfarm Payrolls on Friday is +185K. Stock futures are up sharply; Treasuries and mortgages are lower after the data. Right now, the futures market is pricing in about an 82% chance that the Fed keeps rates between 0% and 0.25% through September 20th, 2011. Currently, the Ten Year yield is at 3.22% (3.17% yesterday) and the 2-10 yield spread is at 261bps, steepening 1bp since yesterday morning.
