Industry News
Mortgage Industry News
Jobless Claims Unexpectedly Drop
12/15/2011
Treasury prices are mostly unchanged this morning after giving up overnight gains that had the 10yr yield testing 1.86% briefly. European woes continue to dominate but today’s economic calendar is chock full of data. Both the NY Fed manufacturing and the weekly jobless claims reports produced better than expected results. Initial claims unexpectedly dipped to 366k vs estimates of an increase of 9k to 390k. Meanwhile the Empire State manufacturing report showed a larger than expected increase to 9.53 vs estimates of 3.00. Lastly, the Nov PPI report was somewhat mixed but mostly in line with expectations. Currently, the 10yr yield is at 1.930% (1.965% Wednesday) and the 2-10 yield spread is at 169bps, flatter by 4bps since yesterday morning.
