Wednesday’s 5 year note auction was well received and the Fed released its Beige Book which suggested weak economic growth in most areas of the U.S. These items allowed treasury and mortgage bond prices to firm late in the day.
This morning a decline in weekly jobless claims helped buoy the stock markets and pushed the yield on the 10 year note back to 3.04%. The only remaining item on today’s calendar is the Treasury’s $29 billion auction of 7 year notes.
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