MBS OPEN: Barely Positive Despite Tame Print On Claims
By:
Matthew Graham
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- Jobless Claims rose to 554k from 522k last week. Estimates called for 560k.
- Continuing claims continued to decrease (from 6.32 to 6.225 mln). Slower deceleration than last month.
- Tsy's are up a bp or two but fell so much overnight, the day is net positive with 10yr up 4 ticks and yield at 3.53
- MBS up 3 ticks with 4.5 at 100-09
- Rather have you read THIS than anything else...
- With that in mind, give a good hard look to AM rates as the price action so far (slightly positive, but not so much as to incite significant profit taking before rates are released)
- Tsy Supply (auction announcements) to come later in the day.