Wednesday's bond market has opened in positive territory following a weaker than expected manufacturing report. The stock markets are mixed with the Dow down 4 points and the Nasdaq up 6 points. The bond market is currently up 5/32, which will likely improve this morning's mortgage rates by approximately .125 of a discount point.The Commerce Department reported this morning that May's Durable Goods Orders fell 2.8%, which was nearly triple the drop that was expected. This indicates that demand for big-ticket items was much weaker than expected. This is good news for bonds because it hints of a possible manufacturing slowdown.The only relevant economic data scheduled for release tomorrow is the final reading to the1st Quarter GDP and weekly unemployment claims. The GDP data is quite aged...
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