Jobless Claims 4 Week Average Lowest Reading since July 1973

February 23rd, 2017

DEFINITION of 'Jobless Claims' The number of people who are filing or have filed to receive unemployment insurance benefits, as reported weekly by the U.S. Department of Labor.

Jobless Claims Definition | Investopedia

www.investopedia.com/terms/j/jobless-claims.asp

US weekly jobless claims total 244,000 vs 241,000 estimate.  The Four week moving average fell 241,000 the lowest reading since July 1973

For more info click: http://www.cnbc.com/2017/02/23/us-weekly-jobless-claims-feb-18-2017.html

 

 

 

What Is Going On With Interest Rates?  #wigowir

Below is the news when it happened and the market’s reaction.  For a full view of the day start at the bottom and work your way up. If want to know what just happened start at the top. All Times are Eastern Standard Time.  When the price of Mortgage Backed Securities (MBS) goes down rates go up, and when the price goes up rates come down. Remember in the bond market Bad News is Good News and Good News is Bad news.

8:35 AM Elections in Europe are supporting the safe haven play in Bonds, while yesterday's Fed minutes had little impact on March Fed Fund Futures.

8:33 AM The New York Fed will be supportive later this morning as it will purchase up to $1.475B in Fannie/Freddie 3.0% and 3.5% coupons.

8:31 AM Weekly Initial Jobless Claims come and go with little fanfare rising by 6K to 244K, above the 242K expected, and continue to hover near lows not seen since the early 1970's.

8:18 AM WTI oil at $54.51/barrel, +$0.92.

8:15 AM Fed Fund Futures show just about a 20% chance of a hike to the Fed Funds Rate in March, little changed from before the minutes were released, 51% in May and a 72% chance in June.

8:13 AM Fed Governor Jerome Powell said yesterday that the March 14-15 FOMC meeting is live for a rate hike and that he believes a hike in the short term Fed Funds Rate will come very soon if the economy stays on track.

8:11 AM Economic data this morning is limited to Weekly Initial Jobless Claims.

8:11 AM The Treasury will sell $28B 7-yr Notes, results at 1:00 p.m. ET and comes after yesterday's tepid demand for the 5-yr offering.

8:08 AM U.S. dollar index 101.13, -0.06.

8:05 AM 10-yr T Note yield edges lower to 2.39% after yesterday's high of 2.45%.

8:03 AM Stock futures grind higher with the Dow beginning the day with 9 straight record high closes at 20,775.60.

8:02 AM MBS look to open modestly higher after yesterday's rebound after somewhat dovish Fed minutes were released

Johnmarbury.com has attempted to verify the information contained on this post.  However any aspect of such may change without notice.  Johnmarbury.com does not provide investment advice and does not represent that any of the information or related analysis is accurate or complete at any time. On October 5th we started posting our rates and leaving them on the site for you to refer back to. This will allow  you see where actual rates have been along with the news that caused the fluctuations on the rate sheet.  I ask that you forgive my spelling and grammatical mistakes. This is due writing skills that are lacking and the need to communicate quickly.  Most of the information posted on this blog along with the charts and indexes are available all during the day to the subscrbers of www.themortgagemarketguide.com  The cost of subscription is very reasonable.

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