Market Update – U.S. Labor-Market Report Tempers Losses in the Bond Market

Mortgage bonds are mixed this morning as European Union and International Monetary Fund officials are in Dublin to discuss a possible aid package for Ireland’s banks. In the U.S., today’s weekly initial unemployment claims report was expected to be 441,000, an increase of 6,000. The actual number increased less than forecasted at 439,000, reversing part of last week’s decline to 435,000.

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Market Update – Several Important Economic Reports Are Released This Week

Several important economic releases are slated for this week, including today’s retail sales and manufacturing data, the Producer Price and Consumer Price index inflation numbers, jobless claims, housing starts and building permits. Today’s retail sales report showed that sales rose again, which initially sent bonds down further on the potential of an economic recovery fueled by higher consumer spending.

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