Industry News
Mortgage Industry News
Chinese Manufacturing Grows
02/01/2011
Chinese manufacturing grew and Egypt’s military said that they won’t fire on anti-government demonstrators. Stock futures are higher; Treasuries and mortgages are sharply lower. ADP (consensus +140K) and Nonfarm payrolls (+143K) will be released later this week, tomorrow and Friday, respectively. Right now, the futures market is pricing in an 80% chance that the Fed keeps rates between 0% and 0.25% through June 22nd, 2011. Currently, the Ten Year yield is at 3.43% (3.35% yesterday) and the 2-10 yield spread is at 282bps, steepening 2bps since yesterday morning.
