This week will be fairly quiet in terms of economic data, leading up to the June employment report scheduled for release on Friday. Recall in May nonfarm payrolls grew 54,000, substantially less than forecast, and are expected to increase by 85,000 for June. The unemployment rate ticked up to 9.1% and is forecast to remain at that level.
Bond prices are improving this morning after enduring a brutal week last week. Friday the yield on the 10 year note closed at 3.185% and is currently trading at 3.135%.
Mortgage prices are improved by .25% to .375%.
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