FNMA 4.5% bond trading at $102.06 at the end of the session and is down 3 cents.
Investors are waiting on the news tomorrow morning with the release of the jobs report. Analysts expected the "creation" of 500k jobs in the report which would be some good news for the stock market and could cause pricing erosion in the bond market (and higher mortgage interest rates as a result.)
The prediction was actually increased to 660,000 "new" jobs I read today. However: over 417,000 of the new jobs are "temporary" census worker jobs paying 12-15 dollars an hour. With the census numbers out of there, I don't think the markets will react too much. OR The markets will react to the initial announcement and them back off when the number is dissected.
Cheers!
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Chad Schauers
Montana Mortgage Lender, Bozeman, Montana
Personal Cell: 406 799 8613
Personal Email: metchad@gmail.com
