A couple of reports released yesterday showed that the level of treasuries held by dealers dropped, which caused a demand for treasuries.
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Reports showed the euro-area economy shrank .6 percent in the final months of 2012. That is the worst performance in almost four years, as output slumped in its three largest economies.
Treasuries fell for a third day as the government prepares to auction off $24 billion of 10-year notes today.
Treasury 10-year notes declined for the first time in four days as the U.S. prepared to auction $72 billion in coupon-bearing securities this week.
Treasuries and mortgage backed securities both rallied this morning following the jobless claims reports.
News of increased manufacturing orders in December due today may boost consumer confidence and improve stock market yields.
U.S. Treasuries and MBS prices are rallying, which is helping off-set most of the losses we incurred after a mid-day reprice yesterday.
Highlighted by multiple reports that will give an indication of the health of our economy, this week will be full of data for you to consume.
It’s earnings time, and mortgage income is helping the big banks out like Wells, Chase, Morgan Stanley and even Bank of America. GE released earnings yesterday that beat estimates.