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Mortgage Industry News
Citigroup Announces Drop In Earnings
04/18/2011
Bonds are trading slightly higher this morning on a light day for economic data. Citigroup announced a 32 percent drop in first-quarter earnings, which was less than most analysts anticipated. Right now, the futures market is pricing in about a 93% chance that the Fed keeps rates between 0% and 0.25% through August 9th, 2011. Currently, the Ten Year yield is at 3.389% (3.46% on Friday) and the 2-10 yield spread is at 270bps, tightening 3bp since Friday morning.
