Mortgage bond prices remain slightly weaker this morning pushing rates higher.
The
headline figures of the economic releases this morning were not rate
friendly, but some of the underlying components resulted in mixed
reports.
Weekly jobless claims came in @353k, expected @380k.
This was not rate friendly. Durable Goods Orders up 1.6%, expected up
0.4%. This also pressured rates. However, the ex-transportation
component of the durable goods release showed a 1.1% decrease which was
considerably weaker than the expected unchanged reading.
News out of the euro zone indicated the European Central Bank would boost efforts to shore the instability. Full details
This reduces the flight to quality buying of U.S. debt instruments in
the short term. However, the euro zone troubles are far from over.
Spain and Greece remain in dire shape. Full details
Expect additional volatility!
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