Industry News
Mortgage Industry News
Weekly Jobless Claims Better Than Expected
07/20/2017
Treasury prices were mostly unchanged overnight as limited overseas data left investors to focus on central bank activity. The Bank of Japan left rates unchanged but extended the expected timeline to hit its 2% inflation target. Meanwhile, the ECB also kept its monetary policy unchanged and more importantly did not alter language on QE, which some economists had expected. Today’s US economic calendar includes a couple notable releases on employment and economic activity. The Weekly Jobless Claims Report was stronger than expected as New Claims of 233k was better than consensus estimates of 246k. However, the Philly Fed Business Outlook Survey was weaker than expected as the 19.5 print was below expectations of 22.0. Currently, the 10yr yield is at 2.262.
