Market Comment
Bonds are trading higher due to a softer-than-expected Initial Jobless Claims number, as well as optimism about today's Bond auction.
Initial Jobless Claims were reported just slightly higher than expectations, and Continuing claims increased by 12,000. Overall, these numbers remain stubbornly high and somewhat contradict the recent positive tone of the past couple of Jobs Reports.
Currently, Mortgage Bonds are still hovering around a dual ceiling of resistance. I recommend floating for now, as I monitor the situation and the results of this afternoon's Treasury auction.
Leonard Winslow, New American Mortgage, Charlottesville
NMLS # 265272
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112
Initial Jobless Claims were reported just slightly higher than expectations, and Continuing claims increased by 12,000. Overall, these numbers remain stubbornly high and somewhat contradict the recent positive tone of the past couple of Jobs Reports.
Currently, Mortgage Bonds are still hovering around a dual ceiling of resistance. I recommend floating for now, as I monitor the situation and the results of this afternoon's Treasury auction.
Leonard Winslow, New American Mortgage, Charlottesville
NMLS # 265272
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112
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