Mortgage yields and U.S. Treasuries dipped mildly lower on Thursday due to a mixed Jobs Report with 223,000 new jobs created. New job creations were slightly lower than expected, but the overall report was on the positive side. The one positive for bonds was the lack of wage growth.
Greece continues to weigh on the global markets as the Greeks did default this past Tuesday on their government debt. However, fear of other debt defaults spreading to other countries within the European Union does not appear to be present at this time.
Technically, bonds continue to hover near support at 2015 price lows, but, remain on longer-term downtrend. Therefore, we continue to remain biased toward locking in rates.
In closing, we wish everyone a Happy July 4th weekend.