Treasuries gain this morning after the new report of jobless claims surged more than expected. The first time claims unexpectedly rose by 27,000 to 412,000 for the week ending April 9. Also helping the fixed markets was a tepid Producer Price Index that ticked 0.7% higher last month, but well below last month's 1.6%, and below the market forecast of 1.1%. Later today at 1 pm EST the results of the last auction of the week will be announced; a $13 billion offering of 30 year notes. Currently mortgages are roughly an 0.125 better in price from yesterday afternoon's improvement.
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