Industry News
Mortgage Industry News
Ebay and Nokia Post Strong Earnings
10/21/2010
Initial jobless claims printed slightly better than expectations, while continuing claims were worse; the previous week’s initial claims was revised upwards for the 25th time in the last 26 weeks. Strong earnings from EBay, Caterpillar and Nokia have pushed stock futures higher and bonds mildly lower. Right now, the futures market is pricing in an 87% chance that the Fed keeps rates between 0% and 0.25% through January 26th, 2011. Currently, the Ten Year yield is at 2.49% (2.50% yesterday) and the 2-10 yield spread is at 214 bps.
