Quicken Loans Capital Markets Update for January 14, 2010
Treasury and mortgage bond prices are slightly higher this morning ahead of the week’s final Treasury auction. Today’s December retail sales report was expected to increase following November’s strong reading.
The reading was worse than expected which is helping to support bonds this morning. Also, today’s weekly initial unemployment claims report was expected to creep higher while this week’s continuing claims report was expected to fall.
Initial unemployment crept higher and this week’s continuing claims report fell, both moves were more than expected.
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I’m sure inflation probably played its part too but it wasn’t mentioned. The department store increase I take with a grain of sand as a result of gift card redemptions and that more people are getting savvy to the restrictions that come with them.