I hope that this note finds you well and enjoying your Thursday. There was mixed economic news this morning, as Housing Starts and Building Permits came in below expectations and showed that new home construction remains quite weak.
But on the positive side, there was some good news from the Labor Department as Initial Jobless Claims came in quite a bit below expectations. The past two weeks' improvement in Initial Jobless Claims is encouraging. And there was more good news from the financial sector as JPMorgan Chase reported better than expected earnings for the 1st quarter of 2009 on surging investment banking profits and fixed income trading revenue.
Currently, Bonds continue to trade near a key support level. I recommend careful floating for now, but I will certainly let you know if things change. In the meantime, I hope you have a fabulous rest of your day. If there is ever anything that I can do for you, please let me know.
PS Care to follow me on Twitter.Com? @MortgageMinute if you do.
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