MBS are down -1/32 (FNMA 30-yr 3.0 at 102.04), around 1/32 lower than yesterday at this time.
This morning, weekly Jobless Claims rose to 278K, a little above the consensus of 270K. Fourth quarter Productivity was revised from -3.0% to -2.2%, better than the consensus of -3.2%. The Dow is down 50 points. Factory Orders, and ISM Services will be released at 10:00 et. The key Employment report will be released tomorrow.
RATES ARE MOVING UP
MBS are down -2/32 (FNMA 30-yr 3.0 at 102.05), around 14/32 lower than yesterday at this time. Unfavorable repricing took place yesterday.
This morning, the ADP estimate for private sector job gains in February was 214K, above the consensus of 185K. The Dow is down 75 points. The Fed’s Beige Book will be released at 2:00 et.