Thursday, November 12, 2009 7:05 AM

Price Trend: Neutral

Price Volatility: High

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Current Conditions:

FNMA 4.5 101-13 (-1)

GNMA 4.5 101-08 (+1)

10yr Yield 3.471

Today's Economic Data

(PST)

Jobless Claims 5:30

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Commentary:

The bond market has re-opened this morning after a day off yesterday. However, there is still very little to

give the market direction. Jobless claims came in lower than expected and reached a 10 month low. This

really did nothing for bond prices, though. Later today, the Treasury will complete this week's auctions with

a 30yr bond issuance. Recent auctions have indicated that as maturity terms increase the market seems to

have more trouble digesting the supply. This makes today's event a little more of a concern.

 

Richard Sellers



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