This morning’s weekly jobless claims report essentially equaled expectations with new claims of 452,000 versus expectations of 455,000. The big news is the revision which pushed the prior week’s initial claims to 475,000. Wednesday’s release of the Feed’s Beige Book, prepared for the upcoming FOMC meeting, did not produce any surprises and did not alter expectations for QE2 of some sort.
Positive earnings announcements from McDonalds, Travelers, EBay, NetFlix and Amazon have stocks moving higher while bonds are trending lower. Mortgage prices are approximately .125% worse than Wednesday.
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