Economic Indicators

Retail Sales May | 1%  | E 0.5% | P -0.2% | elevated

Retail Sale Ex-Auto May | 1.2% | E 0.7% | P 0.5% | elevated

Initial Jobless Claims 6/7 | 384,000 | E 371,000 | P 357,000 | modest

Economic Indicators June 05

Initial Jobless Claims 5/31 | 357,000 | E 370,000 | P 372,000 | Modest

Initial Jobless Claims report better than expected.  There were only 357,000 first time filers for state unemployment reported from May 31.  Mortgage Backed securities currently are trading -35bp on the day @ 98.84.

Oil and Inflation are taking their toll | Mortgage Bonds -50bp

Inital Jobless Claims 5/17 | Reported 365,000 | Est 370,000 | Prior 371,000 | MODEST

Initial Jobless claims report slightly better than expected this morning.  The economy is in a rough spot with the Feds hands being tied because of their inflation fears.  Oil hit $135 a barrel and Gold is up.  Mortgage rates will have at least a .125% increase across the board this morning until the Bond bounces off the current level of support.

Initial Jobless Claims Still Dismal

Initial Jobless Claims | Reported 365,000 | Est 370,000 | Prior 380,000 | MODEST

The Initial Jobless claims report was in-line with expectations.  This initially boosted bond prices benefiting mortgage rates.  We will need to be watching the stock market closely this week since there is and have been no substantial economic reports.  Mortgage Bonds will be reacting opposite stocks.

Initial Jobless Claims

Initial Jobless Claims tracks the first time filers for state unemployment.  If there are a large number of unemployed, then job growth may be stunted.  When the number of filers for state unemployment is few, there may be increasing in Read more