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March 24, 2011

Jobless Claims Drop Again. Rates Higher.

March 24, 2011

Jobless Claims Drop Again. Rates Higher.

Below is a table showing fewer people applied for unemployment benefits last week, and the number is also lower than last month and last year. The official March report next Friday from the Bureau of Labor Statistics will give a more official signal about actual new jobs added and the unemployment rate, but for now this shows an improving trend.

Stocks are up (Dow +78, S&P +9), bonds are down (10yr Note -41 basis points, FNMA 30yr 4% coupon -22 basis points), and rates (on loans to $417k) are clinging to the 4.875% mark but will tip to 5% if the bond selloff holds—rates rise when bond prices drop in a selloff.