Fantastic Friday morning to all,
Morning news: Non- farm payrolls way down -85k vs projected -2k. That should help bonds.
Wholesale inventories up 1.5% vs projected -.05. This will hurt bonds.
Under-employment(part time workers looking for full time work) up 17.3% vs last report 17.2%. 929k workers have just stopped looking for work so that needs to be added into unemployment #s. Reality is unemployment is 10.5%.
We opened strong up 37bps above yesterday's close -down now 31bps.
We should see some recovery with bonds........but if we drop below the 10day moving average watch out!
Today's snapshot
Charting in detail below.
http://mortgagecoach.utipu.com/app/invited/id/a17d20
Have a great weekend!
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