An FOMC announcement and optimism surrounding the financial unrest in Europe seemed to spark a market rally yesterday. This surge led to repricing, causing mortgage-backed securities to open up lower for the second straight day this week.
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Tag Archives: Jobless Claims
European Central Bank Release Boosts Mortgage Backed Securities – Market Update
The debt crisis abroad is holding strong, as indicated yesterday following a release of the European Central Bank’s balance sheet. The financial brief sparked mortgage backed securities in Thursday’s early morning hours, driving the 4.25% 30-Year rate to zero points. Jobless claims have increased over the past week.
U.S. Government Securities Increase – Market Update
The demand for U.S. Government backed securities is up, Europe is still struggling, stocks barely budge, and we have a mouth-full of economic data to chew on for the day.
Jobless Claims Report Better Than Expected – Market Update
The jobless claims report came in better than expected, showing a drop in initial jobless claims of 39,000 last week, adding pressure to bonds this morning.
Jobless Claims Higher Than Expected – Market Update
Bonds are opening higher this morning following comments from European Central Bank President Trichet, that the risk signals for financial stability in the Euro area are flashing “red.” Bonds extended gains after this morning’s jobless claims report showed a higher than expected increase in claims last week.
Jobless Claims Data Better Than Expected – Market Update
Treasury and mortgage bonds ended the day lower yesterday and are down more this morning following the U.S. jobless claims report which came in much better than expected. Great news for the labor market = negative news for bonds.
Economic Data Helps Keep Mortgage Bonds Steady – Market Update
Treasuries and mortgage bonds opened up relatively flat to where they closed yesterday. There are a few economic releases this morning and mortgage bonds are holding early morning levels following the releases. Initial jobless claims came in slightly higher than expected, and retail sales came in lower than expected.
Unemployment Claims Came in Higher Than Expected – Market Update
The bond market opened up this morning on a weakening economic recovery expectation. Both the initial jobless claims and continuing unemployment claims report came in higher than expected, but the market focus still remains on tomorrow’s April unemployment report.
House Price Index Expected to Show Decline – Market Update
Bonds are rallying following this morning’s employment reports. Both initial jobless claims and continuing claims came in higher than expected. The February House Price Index will be released this morning and is expected to show a decline of -0.3 percent month-over-month. The expected drop would bring the index to a 7 year low, indicating that home prices have fallen back to early 2004 levels.
First Time Claims for Unemployment Insurance Rose Last Week – Market Update
Bonds are opening up this morning on concern that Greece may have to restructure their debt. They rallied further following the U.S. jobless claims report which showed that first time claims for unemployment insurance came in higher than expected last week.
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