A successful 10 year note auction on Wednesday lifted bond prices into the market close. This morning we see a reversal of that, with bond prices lower across the curve as initial jobless claims dropped from the 478,000 to 451,000, a positive sign for the job market.
Later today the U.S. Treasury will be auctioning $13 billion of 30 year bonds, which is expected to be well received. As of now the price for 30 year bonds is lower by over 1.00% and mortgage prices are worse by .25% to .375%.
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