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Nonfarm Payrolls 288k vs 210k Forecast; Bonds Tanking
Posted to: Micro News
Friday, May 2, 2014 8:34 AM

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  • April NFP 288k vs 210k forecast
  • March revised to 203k from 192, Feb revised to 222k from 197
  • Private Payrolls 273k vs 210k forecast
  • Unemployment Rate 6.3 pct, lowest since Sept 2008, 6.7pct forecast/previous

As you might expect, this number is not good for bond markets, and so the range is likely to persist.  10yr yields shot immediately from 2.62 to 2.68--which is actually not that big of a move considering the data.  Fannie 4.0 MBS lost an immediate 3/8ths of a point and are currently down 13/32nds on the day at 104-18.

More to follow as the market trades this out.

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Mortgage Rates:
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  • 15 Yr FRM 2.94%
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  • Jumbo 30 Year Fixed 3.61%
MBS Prices:
  • 30YR FNMA 4.5 108-30 (0-02)
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  • 30YR FNMA 5.0 110-19 (0-02)
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  • 30YR FNMA 5.5 111-26 (-0-04)
Recent Housing Data:
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  • Refinance Index 11.33%
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  • Purchase Index 8.43%