July 2nd, 2010 10:27 AM by BILL WILBANKS
Apparently the emplyment numbers have yet to have much effect on the the DOW which is basically flat (up about 2 points) or the 10 year treasury still hanging below 3% at 2.9813%. But, before a 3 day weekend it's a long time till closing. . .
2 PM Update
DOW stocks are now down 67 points or so after this AM's employment and manufacturing data. The 10 year treasuries are at 2.97% still below the 3% mark and stuck on 2.98% and below at the moment. I would normally expect this morning's negative data to have had a little more down movement on my world. Apparently lenders once again, most likely in preparation for a well deserved (for all of us) 3 day weekend, have hedged their points up about 25 bp this afternoon from this morning and with all the refinance packages coming in the door at the current fire sale levels they probably don't mind a little slowdown. I love that...two weeks ago none of us could get enough new business. It's a fickle world. If someone else is too busy, call me please. :)