Latest Commentary
The Employment Situation Report will be released at 8:30am tomorrow. Economists expect the Unemployment Rate to move higher from 9.5% to 9.6% and they forecast a 100,000 person decline in Non-Farm Payrolls. A better than expected report will send mortgage rates higher while a worse than anticipated read will send consumer borrowing costs lower. The...
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The way I view it, the hoard of $$ that has gone long Treasuries would just love it if NFP prints worse than expected. Not only could they add to their position at a cheaper price, they could book a profit (reduce losses) when the curve rallies coupon prices higher. On the other hand, if NFP matches expectations or beats, specifically the Private Payrolls...
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