|This email was sent to you by:|
Harry Chriest |
Mortgage News Daily
Email alerts, such as this one, are a free service
provided by Mortgage News Daily. If you would like to receive an alert when important news breaks
please register to join our community
NFP Right on Screws; Bond Markets Slightly Improved
Posted to: Micro News
Friday, June 06, 2014 8:41 AM
- NFP +217k vs 218k forecast, 282k previously (revised from 288k)
- Unemployment rate 6.3 vs 6.4 forecast
- Labor Force Participation Rate 62.8, unchanged
- Private Sector Jobs 216k vs 210k forecast
- Wages +0.2 vs +0.2 forecast, +0.0 last time
An uncommonly close-to-consensus payrolls report is leaving bond markets a bit confused this morning. If there's one thing bond markets don't need right now, it's uninspiring data (further decreasing volatility, forcing markets to create their own spontaneous volatility).
10yr yields were as high as 2.60 overnight, but hit the 8am mark just under 2.58. They're currently at 2.57. This is not much movement for an NFP day!
Fannie 3.5s are 5 ticks higher on the day at 102-19. We're still waiting for any tangible momentum to emerge, but things are leaning slightly positively so far.
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.