Mortgage bond prices opened lower Wednesday morning adding to the losses seen Tuesday afternoon.
In news released this morning, weekly jobless claims stood at 435K and continuing claims, a summation of all receiving benefits stood at 4,301K. Economists’ expectations were for a read of 450K and 4,350 respectively. That data was stronger than expected and not bond friendly.
In other news, the trade balance stood at –44B. Traders were expecting a deficit of 44.8B. That data was near expectations.
Market participants are now waiting for stocks to begin trade at 9:30 am ET and for the outcome of the Treasury auction of $16B in 30-bonds at 1:15 pm ET.
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