Yesterday, Treasury prices dropped as initial jobless claims fell and existing home sales jumped more than predicted. Today, Treasuries are relatively flat to yesterday’s close. With no economic data, Treasuries and mortgage bonds will take their queues from equities.
The details of the federal government's $75 billion loan modification plan to were released this morning. According to Housing Secretary Shaun Donovan, the plan will help financially stabilize up to 9 million homeowners.