Good Morning Everyone,
Today, jobless claims data was mixed with initial claims coming in 25k worse than expectations, but continuing claims posted a strong showing adding some fuel to the green side for bonds. These past two days have given us some relief from the torturous previous eight days where we basically lost a whole point in price. We are seeing money managers and pension fund buyers come in and bid on mortgages which is good for everyone ( keeps rates down ) and we hope to see more come out of the woods as the Fed has gone bye-bye in the market…
For those of you that work for Remax... CONGRATULATIONS.. Looks like Bank of America has decided to have you sell all their short sales.. Looks like your going to be very busy!!
Till Later
Thorsten Bernacki
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