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Bond Markets Weaker Overnight; Jobless Claims Coming Up
Posted to: Micro News
Thursday, October 10, 2013 8:30 AM
10yr yields traded as high as 2.716 overnight--levels not seen since Sep 23rd. A possible stop-gap debt ceiling deal (that would kick the can into 2014) was one of the sources of negativity for bond markets (and positivity for equities). S&P futures rose roughly 15 points from yesterday's latest levels.
The technical landscape also bears consideration, with momentum indicators shifting bearishly at yesterday's close.
MBS opened almost a quarter of a point weaker with Fannie 3.5s pushing 101-00. Jobless Claims WILL report as normal in about 15 seconds and should provide our next cue for the morning. It will have to be taken with a grain of salt, however, due to uncertainty over furloughed workers.
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