Good Afternoon.
I hope that this note finds you well and that you are having an AWESOME Thursday so far.
In the Markets today, Mortgage Bonds were on the plus side late this morning after initially dropping due news that Germany and France have declared that their recessions are over, as well as Wal-Mart's announcement that it beat earnings estimates for the 2nd Quarter.
Helping boost Mortgage Bonds, however, was the Initial Jobless Claims report, which came in above expectations. Also helping Bonds was news that Retail Sales dropped in July by 0.1%, which was well below the 0.8% gain that was expected. This signals that consumers are still saving more than spending.
Currently, Bonds are sitting comfortable after the up-and-down roller coaster like trading atmosphere this morning. I recommend floating for now as I watch to see how the markets receive today's Treasury auction. But be prepared to lock if the situation turns volatile like yesterday. You can follwo my realtime updates on Twitter at @MortgageMinute In the meantime, I hope you enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.
No comments:
Post a Comment