Mortgage bond prices remain higher Thursday morning erasing the losses seen Wednesday afternoon and more.
In news released this morning weekly jobless claims stood at 434K and continuing claims stood at 4,356K. Analysts were expecting claims at 458K and 4,450K respectively. That data was better than expected and not bond friendly.
Traders will spend the day watching stocks as they wait for the results of Treasury auction of $29B in 7-year notes. Auction results are expected by 1:15 pm ET.
Third quarter GDP data will be released tomorrow morning.