employment: 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)

employment: 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)

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Roxy Redenbaugh (Acceptance Capital Mortgage Corporation)

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