The treasury market and stock indices are flat this morning after early morning data that were offsetting. The Producer Price Index, a measure of inflation, rose 0.4%, a higher than expected increase, and typically not bond friendly. Offsetting the higher inflation data was news that weekly jobless claims rose to 462,000, indicating the weak labor market persists.
The 10 year note is stuck at 2.45% this morning while the DOW is lower by 7 points. Mortgage prices are slightly worse than where the market closed Wednesday.
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