Mortgage bond prices opened slightly positive on the day but not enough
to erase the significant losses from yesterday afternoon. Rates remain
worse since pricing Wednesday morning.
In new, housing starts
came in @ 746k, expected @ 757k. This data was generally rate friendly.
Weekly jobless claims @ 366k, expected 365k, relatively in line and
didn't move things much.
News out of the euro zone was mixed.
Overall growth continued to contract while Germany remained the one
bright spot with steady growth.
British retail sales showed a
somewhat surprise uptick, but much is being attributed to the Olympics
and future projections look for that figure to fall back down.
We have Philadelphia Fed, LEI, and consumer sentiment data Friday morning.
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