This morning, the selling pressure on Mortgage Bonds continued on the heels of a better than expected Initial Jobless Claims Report, which showed 357,000 new claims, lower than 372,000 the market was looking for.
The Bank of England’s (BOE) Monetary Policy Committee stood pat for the second month in a row, leaving its official interest rate unchanged at 5%. The European Central Bank (ECB) also left its key interest rate unchanged at 4%. The decision for the ECB and the BOE was widely expected by economists as inflation remains a threat to the economy.
