The Day Ahead: Jobless Claims, Existing Home Sales, Auction Supply, More Bernanke
ByPosted To: MBS Commentary
Equity futures look set to erase yesterday’s afternoon losses. Ninety minutes before the opening bell, Dow futures are soaring 101 points higher at 10,159 and S&P 500 futures have jumped up 13 points to 1,076.90. They’ll have to do a bit better than that though. The Dow shed 109 points yesterday while the S&P fell almost 14 points. The three data points set for release today won’t make that easy either. Jobless claims are anticipated to rise, secondary market home sales should tumble rapidly, and a broad gauge of growth is expected to fall for the first time in 15 months. Treasuries are giving back some of the gains experienced yesterday. The 2 year note, which hit a new record low yield yesterday, is -0-01 at 100-03 yielding 0.576%. The benchmark 10-year note is …(read more)