Industry News
Mortgage Industry News
Today’s Market Color
09/02/2011
Treasury prices are surging higher this morning after an abysmal Aug non-farm payroll report provided further evidence that the economic recovery is stalling. The US labor market showed zero job growth in August versus expectations of a mere 75k increase. July’s levels were also revised lower to 85k from the previously posted 117k increase. Investors were prepared for an anemic report but this failed to even come close to meeting those lowly expectations. Currently, the 10yr yield is at 2062% (2.21% Thursday) and the 2-10 yield spread is at 1.87 bps, flatter by 15 bps since yesterday morning.
