Jobless claims just released, claims at 478,000 slightly higher then estimates of 465,000. The continuing claims remains at a 5 year high. No reaction to mbs as of yet.

Currently our 5.5 mbs is down 2 ticks since official close and is currently at 100-13. A floor of support is right beneath at 100-11.

Further anaylsis to follow and we will post back if we fall beneath 100-11 but until then keep hope alive.