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Mortgage Industry News
Weekly Jobless Claims Improve
01/12/2017
Treasury prices moved high overnight as equity markets seem to be weaning off the enthusiasm of Trump’s election victory. Overseas data was mixed as softer than expect data from Asia was offset by firm data from Europe.Today’s US economic calendar picks up the pace with the release of the Weekly Jobless Claims Report and Import/Export Price Index. New claims were slightly better than expected as a 247k print was moderately better than 255k forecasts. Data on Import and Export Prices was mixed as a 0.4% increase in Import Prices was below estimates of +0.7% but 0.3% growth in Export Prices was above 0.2% forecasts. Lastly, Fed activity will be heavy today as a number of appearances culminate with Fed Chair Janet Yellen’s speech this evening at 7PM ET. Currently, the 10yr yield is at 2.316%.
