economic data: Market Update With Stunning Employment Figures!
- 07/08/11 06:39 AM
Stunned!! The only way to describe what we saw at 8:30 when the BLS employment report was released, mouths dropped, words were hard to come by with one of the weakest monthly employment reports in over a year. Non-farm jobs, expected up 100K were up just 18K; private sector jobs expected up 125K, up just 57K. It wasn't just June data; May non-farm jobs were revised frm +54K to +29K and April jobs lower by 4K frm what what was originally released. The jobs were the weakest since Sept 2010. The unemployment rate, expected unchanged at 9.1%, increased to 9.2%, the highest since Dec … (0 comments)
economic data: Market UpDate
- 06/06/11 06:46 AM
On Friday the May employment report disappointed with only a 54k gain vs an expected 165k gain in nonfarm payrolls and an increase of the unemployment rate to 9.1% vs an expected 8.9%. Last week was filled with weak economic data and stocks finished the week down more than 2.0% and Treasuries and mortgages rallied. The employment number propelled Treasuries higher Friday with the 2-year Treasury finishing up 1.75/32nds (0.433) and the 10-year Treasury finishing up 9.5/32nds (2.997). Mortgages followed Treasuries higher and outperformed swaps (libor curve) by 1 to 2/32nds. The FNCL (30-year) 4.0s in June finished up 5+/32nds (101-1) and the … (0 comments)
economic data: Market UpDate W/Housing Starts Data
- 01/19/11 04:21 AM
Wednesday's bond market has opened in positive territory following the release of some mixed housing data and early stock losses. The Dow is currently down 3 points while the Nasdaq has lost 22 points. The bond market is currently up 4/32, but we will still likely see an increase of approximately .125 of a discount point in this morning's rates due to weakness late yesterday.December's Housing Starts was the day's only relevant economic data. It showed that starts of new home construction fell much more than expected last month. That is good news for the bond market because it hints at … (0 comments)
economic data: Market UpDate W/Bond Market in positive territory!
- 01/14/11 05:19 AM
Friday's bond market has opened in positive territory after this morning's economic data gave us mixed results. The stock markets are showing minor gains with the Dow up 12 points and the Nasdaq up 5 points. The bond market is currently up 8/32, which should improve this morning's mortgage rates by approximately .250 - .375 of a discount point over yesterday's morning rates.The first of this morning's four economic releases was December's Retail Sales data. It revealed a 0.6% increase in sales at the retail level of the economy last month. This is a moderate increase, which is not necessarily good … (0 comments)
economic data: Market UpDate W/Labor Department Stats
- 01/06/11 05:24 AM
Thursday's bond market has opened in positive territory after this morning's only economic data gave us favorable results. The stock markets are also helping to boost bond prices with losses in the Dow of 43 points and the Nasdaq 3 points. The bond market is currently up 9/32, but we will still see an increase of approximately .125 - .250 of a discount point in this morning's mortgage rates due to weakness in trading late yesterday.The Labor Department gave us this morning's only economic data with the release of last week's unemployment figures. They reported that 409,000 new claims for unemployment … (0 comments)
economic data: Market UpDate W/Higher Mortgage Rates in the Forecast
- 01/03/11 04:55 AM
Monday's bond market has opened the new year in negative territory despite slightly weaker than expected economic data. The stock markets are the cause of the bond weakness with the Dow up 124 points and the Nasdaq up 46 points. The bond market is currently down 12/32, which will likely push this morning's mortgage rates higher than Friday's pricing by approximately .125 - .250 of a discount point.The Institute for Supply Management's (ISM) manufacturing index was this morning's only important economic data. It showed a reading of 57.0 that was slightly lower than the 57.3 that was expected. This means that … (0 comments)
economic data: Market UpDate With Bond Market UP!
- 12/31/10 05:22 AM
Friday's bond market has opened in positive territory as investors look to close the year out on a positive note. The stock markets are showing minor losses of 18 points in the Dow and 11 points in the Nasdaq. The bond market is currently up 10/32, which should improve this morning's mortgage rates by approximately .125 of a discount point.There is nothing of importance this morning, making it highly likely that we will crawl into the end of the year. As expected, trading is extremely light this morning and there is no reason to think that will change before today's 2:00 … (1 comments)
economic data: Tuesday Market Update** What's up with the BOND Market?
- 12/28/10 04:26 AM
Tuesday's bond market has opened in negative territory despite quite favorable economic news and an uneventful open in stocks. The Dow and Nasdaq are both currently down a couple of points. The bond market is currently down 13/32, which will likely push this morning's mortgage rates higher by approximately .125 - .250 of a discount point. December's Consumer Confidence Index (CCI) was this morning's only relevant economic data. The Conference Board said late this morning that their CCI reading stood at 52.5 this month. This was nearly a 2-point drop from November's revised reading, indicating that consumers were less optimistic about … (0 comments)
economic data: Market Update W/Bond Market showing continued improvements
- 12/20/10 06:02 AM
Monday's bond market has opened in positive territory as last week's late strength extends into this morning's trading. The stock markets are doing their part but showing losses rather than gains with the Dow down 38 points and the Nasdaq down 5 points. The bond market is currently up 14/32, which with Friday's afternoon strength should improve this morning's mortgage rates by approximately .625 - .750 of a discount point.There is no relevant economic news scheduled for release today or tomorrow. This means we can look towards the stock markets for direction in bond trading and mortgage rates. If the major … (0 comments)
economic data: Market UpDate for the Holiday Week
- 12/19/10 06:12 PM
This holiday-shortened trading week brings us the release of six monthly or quarterly economic reports. Only a couple of the reports being released are considered to be of high importance to the markets. With the Christmas holiday being observed during the week, we can expect very thin trading. This means that we may see a larger reaction than normal to some news because there will be fewer traders working and less transactions being made. There is no relevant economic news scheduled for release tomorrow or Tuesday, so look for the stock markets to help drive bond trading and mortgage rates those … (0 comments)
economic data: Market UpDate with Bond Market rebounding
- 12/17/10 04:45 AM
Friday's bond market has opened in positive territory again with a mixed morning in stocks and no surprises in today's only economic news. The Dow is currently down 28 points while the Nasdaq has gained 6 points. The bond market is currently up 7/32, but we should see a sizable improvement in this morning's mortgage pricing due partly to strength in bonds late yesterday. If comparing to yesterday's morning pricing, we should see an improvement of approximately .625 of a discount point in rates.November's Leading Economic Indicators (LEI) was today's only relevant economic data. The Conference Board announced an increase of … (0 comments)
economic data: Market updates for next week 6 Relevant Economic Reports
- 08/29/10 10:01 AM
There are six relevant economic reports scheduled for release this week in addition to the minutes from the most recent Fed monetary policy meeting. With at least one piece of data being posted each day this week, it is fairly safe to assume that we will see another active week in the financial and mortgage markets.Unlike many Mondays, tomorrow does bring us one of those reports. July's Personal Income and Outlays report will be released early tomorrow morning, giving us a measurement of consumer ability to spend and current spending habits. It is expected to show an increase of 0.2% in … (1 comments)
economic data: Ninth Straight Week 30 yr fixed mortgage sets records
- 08/23/10 11:52 AM
For the ninth straight week, 30-year, fixed-rate mortgages set a new record low. While there was a bitmore pessimistic news about the economy, not everything was sour. Industrial Production posted afull percentage point gain last month, with manufacturing kicking back upward. Perhaps part of thedrop in rates was due to the expectation that the second estimate for GDP, which is due this week, willreveal an even weaker economy than the previous estimate. In addition to an increase in refinanceactivity, there was some welcome news for the mortgage industry. In an ongoing national survey ofsenior loan officers, respondents are being to see … (2 comments)
economic data: Market Update
- 08/15/10 01:29 PM
This week brings us the release of four reports that may influence mortgage rates, but only one of them is considered to be highly important. With no relevant auctions or speeches on tap, I suspect we will see much less movement in mortgage rates this week compared to the past couple of weeks. There is no relevant data scheduled for release tomorrow, so look for the stock markets to drive bond trading and mortgage rates.Three of the week's four reports will be posted Tuesday morning. The first is July's Producer Price Index (PPI) that gives us an indication of inflation at … (0 comments)
economic data: Market UpDate
- 08/11/10 06:54 AM
Wednesday's bond market has opened in positive territory, extending yesterday's late rally. The stock markets are posting sizable losses with the Dow down 184 points and the Nasdaq down 51 points. The bond market is currently up 10/32, which with yesterday's afternoon improvements should improve today's mortgage rates by approximately .250 - .375 of a discount point compared to yesterday's morning rates.Today's only relevant economic data was June's Trade Balance that was released early this morning. It showed that the U.S. trade deficit stood at $49.9 billion in June. This was a much larger deficit than many had expected, but this … (0 comments)
economic data: Wednesday Market UpDate
- 06/30/10 05:38 AM
Wednesday's bond market has opened down slightly with no relevant economic news scheduled for release today. The stock markets are relatively calm with the Dow nearly unchanged and the Nasdaq up 10 points. The bond market is down 5/32, but we will likely see a slight improvement in this morning's mortgage rates due to strength late yesterday.Tomorrow morning brings us the release of the Institute of Supply Management's (ISM) manufacturing index for June. This important index measures manufacturer sentiment by surveying trade executives on current business conditions. A reading above 50 means that more surveyed executives felt business improved during the … (2 comments)
economic data: Monday Morning Market UpDate
- 06/28/10 05:56 AM
Last week saw mortgage rates trending slightly further downward. The Federal Reserve again heldinterest rates steady, but changed their assessment of the economy. While its assessment is lesspositive than in previous meetings, the Fed appears to still have faith the economy will slowly pullitself out of this recession, but noted that "the pace of economic recovery is likely to be moderate for atime." GDP was adjusted downward last week, and sadly, we're seeing evidence that the housingindustry continues to struggle, with both existing and new home sales slowing.This is a very busy week of economic reports and data. With a manufacturing-led … (0 comments)
economic data: Friday's Market UpDate
- 06/18/10 06:22 AM
Friday's bond market has opened down slightly with no economic data or noticeable stock movements to influence trading. The stock markets are showing modest gains with the Dow up 9 points and the Nasdaq up 3 points. The bond market is currently down 5/32, which should keep this morning's mortgage rates close to yesterday's levels.There is no relevant economic data being posted today. However, it may be a fairly active day for the stock markets since today is "quadruple witching." This has to do with stock option expirations that must be executed and really has no direct relation to the bond … (0 comments)
Stunned!! The only way to describe what we saw at 8:30 when the BLS employment report was released, mouths dropped, words were hard to come by with one of the weakest monthly employment reports in over a year. Non-farm jobs, expected up 100K were up just 18K; private sector jobs expected up 125K, up just 57K. It wasn't just June data; May non-farm jobs were revised frm +54K to +29K and April jobs lower by 4K frm what what was originally released. The jobs were the weakest since Sept 2010. The unemployment rate, expected unchanged at 9.1%, increased to 9.2%, the highest since Dec … (0 comments)
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