Mortgage bond prices opened near unchanged to slightly weaker following the data.
ADP employment rose 162K. Analysts expected an increase of 133K. This data was not rate friendly and the upper coupons saw more of a selloff than the lower coupons.
Stock futures are only slightly higher this morning as was the case yesterday morning. The DOW closed down 33 points yesterday. Stocks and bonds often trade inversely though not always.
News out of the euro zone took a new turn this morning with the head of the IMF predicting a recovery would take a decade. This is generally good news for U.S. debt instruments.
We have the Fed minutes this afternoon.
If you want to more information about Best Mortgage Rates and Refinance Maryland , please visit the website :- http://www.firstchoicemoney.com/
ADP employment rose 162K. Analysts expected an increase of 133K. This data was not rate friendly and the upper coupons saw more of a selloff than the lower coupons.
Stock futures are only slightly higher this morning as was the case yesterday morning. The DOW closed down 33 points yesterday. Stocks and bonds often trade inversely though not always.
News out of the euro zone took a new turn this morning with the head of the IMF predicting a recovery would take a decade. This is generally good news for U.S. debt instruments.
We have the Fed minutes this afternoon.
If you want to more information about Best Mortgage Rates and Refinance Maryland , please visit the website :- http://www.firstchoicemoney.com/
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