The market opened down yesterday on the heels of two stronger than expected economic reports. GDP and Jobless Claims both beat economists’ expectations. However, once everyone dug into the headline numbers, weaknesses were revealed causing MBS to bounce back. Todays employment number came in at 203000 exceeding expectations however the MBS market seems to have already priced in this news over the past week. Currently MBS are at +28. The unemployment rate dropped to 7%
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