Friday closed with a major sell-off caused by better than expected employment numbers. So what does that mean for the week ahead?
Tag Archives | Market Update
Yesterday, mortgage rates inched higher for the first time in four days. This move was caused by a stronger than expected Initial Jobless Claims report.
Currently mortgages are trending flat from where pricing was set yesterday morning. There are no major economic releases planned for today.
Yesterday the market saw a late day rally perhaps to the tragic news out of Boston. Stock prices and the bond market often sync up when tragic news catches the market off guard, in almost an emotional response.
MBS held onto morning gains all day yesterday despite the fact that Jobless Claims increased last month.
We had an unexpected rally in the market yesterday when manufacturing reports came in under forecasts. This morning, treasuries fell in anticipation that today’s reports will beat economists’ predictions.
Treasuries fell this morning, snapping a three week gain on speculation that U.S. manufacturing expanded at its fastest pace in 21 months.
Cypriots will face new restrictions on asset withdrawals and foreign transfers, which should limit capital flight.
The bond market had a strong morning until the European Central Bank reaffirmed its commitment to provide liquidity to the small nation.