MBS MORNING: Jobless Claims Data Pushes Rates Higher
December 31, 2009 – 6:33 amPosted To: MBS Commentary
Good Morning on this last day of the decade. 10 years sure did go by fast didnt it? Remember the whole y2k computer crisis? People thought the world was going to end when 1999 rolled over to 2000. We dodged a bullet on that one huh? (note sarcasm) Just out of curiosity...how are you planning on referring to 2010? Two thousand and ten? Twenty-Ten? O-ten? Ten? I'm leaning towards "Twenty-Ten"...it sounds like something George Jetson might say. Jobless Claims data has been released...it was not bond market friendly. Initial Jobless Claims were WAY better than expected, falling to 432,000 from 454,000 last week. Consensus forecasts were calling for a read of 460,000 new claims. This is the lowest number of initial jobless claims since July 19, 2008. Continuing Claims also beat expectations...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.