http://MikesDailyMarketReport.com: Weekly Jobless Claims dropped from 217k the prior week to 209k last week. The Job Market still shows some strength. Wholesale Inventories had 0.0% growth from May to June. Stocks rebounded late yesterday and continued this trend this morning. China repositioned their currency just above 7, which is a little stronger than reports yesterday at just below 7. A poor Auction result for the 10 year Treasury Auction led to a drastic pullback to both Yields and MBS yesterday. MBS is currently down about 2bps, so Mortgage Rates remain unnchanged from yesterday's close; however, we did have a price change for the worse yesterday; so, we're a little higher than yesterday morning. Yields have risen to 1.77%.
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