The Day Ahead: Jobless Claims, Chicago PMI, Pending Home Sales

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Posted To: MBS Commentary

Bonds are backing up a bit while and equity futures point modestly lower on the last full trading trading day of the year. Seventy minutes before the opening bell, S&P 500 futures are 1.50 point lower at 1,254.25 and Dow futures are 8 points lower at 11,524. The 10 year Treasury note is -7/32 at 93-21 yielding 3.386%. The 2s/10s curve is 1bp steeper at 273bps wide. The FNCL 4.5 MBS coupon is -1/32 at 102-04. Yield spreads are tighter on the open. The equity market is poised to finish 2010 on a positive note. Yesterday, before a last-hour sell-off, the Dow touched the 11,600 level for the first time since September 2008. Meantime, the S&P has climbed 6.71% since Dec. 1 and 12.97% since the start of the year. Just ahead of today’s new data, economists at Deutsche Bank released a...(read more)

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Source: www.mortgagenewsdaily.com

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