Good Morning,
I hope that your Thursday is treating you well. Here in Central Iowa its a rainy, cool day, fairly typical for October. In the Markets, Mortgage Bonds are lower this morning, but are fighting to stay above a dual layer of support at the 50- and 200-day Moving Averages.
In the news, Initial Jobless Claims rose more than expected. In addition, the number of individuals continuing to receive unemployment benefits fell to the lowest level since March, but this is likely the result of people’s unemployment benefits expiring, without them having been able to find jobs.
For now, we can certainly continue to float as the Bond hovers near support. But things may change quickly due to the Treasury Department’s announcement of next week’s auctions, which could be in record amounts! The large treasury auctions are a reality check that as consumers we have to pay back all the stimulus and spending dollars poured out over the past year and a half. If anything changes, I will certainly let you know. In the meantime, if there is ever anything that I can do for you, please let me know.
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