Locking for short term transactions

Initial Jobless Claims for last week came in lower at 339,000 versus the estimate of 351,000.  The news is better than expected, but hardly a consistent reason to push stocks higher.  Especially given the volatile week to week fluctuation.  Nevertheless, stocks are pushing higher with the Dow up 75 points and the S&P 500 up 10 points to almost 1590.  mortgage bonds are flat, but have been stable for about 2 weeks now.  This could be a good sign for rates, as the price momentum  for bonds since early March was a bit too steep to maintain.  Earnings season still has a few weeks to go, so stocks look to be targeting all-time highs, possibly putting a cap on bonds.  We will suggest locking in on short term transactions.

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