• Jobless Claims
  • 243k vs 230k f'cast, 223k f'cast
• Continued Claims
  • 1867k vs 1860k f'cast, 1847k prev
• Philly Fed Index
  • 13.9 vs 2.9 f'cast, 1.3 prev
• Philly Fed Prices Paid
  • 19.8 vs 22.5 prev

A mixed bag of data in the 8:30am time slot, but as we were expecting/hoping, the Jobless Claims data is carrying more weight than Philly Fed.  That said, if Philly Fed had been weaker, we might be seeing a better response. 

As it stands, 10yr yields have rallied just over 1bp but are still 1.2bps higher on the day at 4.17%.

MBS are up 2 ticks (.06) from the opening lows, but still down 1 tick (.03) on the day.