9 am – Mortgage bond prices opened higher Friday morning adding to the gains seen Thursday afternoon.
In news released at the open, Q3 advanced gross domestic product rose 2.0%. That data was as expected. The only way we will ever recover from the Great Recession is to have GDP continue to increase.
In other news, the employment cost index rose 0.4%. Traders were expecting ECI to rise 0.5%.
Traders are now waiting for stocks to begin trade at 9:30 am ET and for the release of the University of Michigan consumer sentiment data set for 10:00 am ET.