Bonds sold off on Wednesday and are slightly worse in price again this morning. The yield on the 10 year note traded as low as 2.47% on Tuesday, and this morning it stands at 2.54%.
Economic data today was a non-event with second quarter GDP being revised upward 0.1% to an 1.7% annualized pace while personal consumption was revised up to 2.2% growth from the previously reported 2.0%. Initial jobless claims fell slightly last week, but remain at elevated levels.
Friday morning we will see another report on consumer confidence as well as data on the health of the manufacturing sector of the U.S. economy.
Mortgage prices are .250% to .375% worse than Wednesday morning.
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