Current Pricing of FNMA 30 Year 4.5% Bond: $100.75
-12 bps (Prior Close – $100.88)
Market Update: The Mortgage Backed Security (MBS) pricing is lower this morning from yesterday, with strength in Asian markets last night money has started to flow out of Bonds.
Economic News: The Labor Department says the number of unemployed workers filing for jobless benefits fell last week by 4,000 to 570,000, but that was less than the 560,000 figure the market had been expecting. Overall, the report indicates that the labor market is still declining. This comes ahead of tomorrow's official Jobs Report, which is the best measure we have of real-time job creations and losses. ISM services sector hit at 48.4 frm 46.4 in July; generally on target.
Recommendation: LOCK
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