Industry News
Mortgage Industry News
Jobless Claims Softer Than Expected
07/06/2017
Treasury prices moved lower overnight as a mix of data and heavy supply from Europe had prices under pressure. Today’s US economic calendar is fairly robust ahead of tomorrow’s NF Payroll Report. The ADP Employment Report kicked off the morning with disappointing results of +158k vs forecasts of 180k. The Weekly Jobless Claims Report was also slightly softer than expected as New Claims of 248k was narrowly above consensus of 244k. Meanwhile, the US Trade Gap narrowed less than expected to -$46.5B compared to estimates of -$46.2B. The PMI Services Index is due up next at 9:45AM ET, followed by the ISM Nonmanufacturing Index and some Fedspeak at 10AM. Currently, the 10yr yield is at 2.377%.
