Bonds Unchanged at Opening

Mortgage Bonds opened near unchanged levels and continue trade near the flat line despite better than expected economic data and a move higher by the major Stock Indexes.

In economic news, the second reading on 3rd quarter Gross Domestic Product (GDP) was revised higher Initial Jobless Claims dropped in the latest week. However, within the GDP report it showed that consumer spending dropped and inflation remained tame while Initial Claims remain stubbornly high due the impact of Superstorm Sandy on the East coast.

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