Global stock markets, inclusive of the U.S. are rallying this morning on economic reports from China, Australia, and Japan reflected accelerating growth. The sole negative report came from the U.S. as weekly jobless claims remain higher than expected; indicating the job creation in the U.S. is anemic.
The markets have discounted the jobless claims data as investor clamor into stocks, which has driven the DOW higher by 200+ points. As one should expect, bond prices are declining moving interest rates higher. The yield on the 10 year note now stands at 3.26%, with the $13 billion of 30 year treasury bonds still to come.
Mortgage pricing is .15% to .375% worse from the close on Wednesday, but remain in the mid 4% range.
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