Initial jobless claims for the week ending June 4 remained above 400,000 at 427,000, slightly higher than the previous week’s 426,000. This data coincides with information released in the Fed’s Beige book Wednesday afternoon, with mixed data from the 12 districts. The report stated “economic activity generally continued to expand, although a few districts indicated some deceleration”.
The Euro zone continues to fret over the potential of a bond default by Greece, and the European Central Bank this morning decided to leave its benchmark rate unchanged. The ECB signaled it may raise rates at the next meeting.
U.S. Treasuries and mortgages are flat from Wednesday’s close, with the yield on the 10 year note hovering in the 2.96% to 2.97% range, and U.S. stocks markets are higher after 6 days of losses.
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