More on the market update

MBS  +7/32 @ 100.10           10 Yr Treasury  +10/32 @ 2.1140           -66@ 15,110

 

Weaker than expected employment data has lifted MBS this morning. The ADP forecast for private sector jobs gains in May was 135K, below the consensus of 170K. First quarter Productivity matched expectations. The Fed's Beige Book will be released at 2:00 et.

 

The Commerce Department on Wednesday said new orders for manufactured goods increased 1 percent. March's orders were revised to show a 4.7 percent decline instead of the previously reported 4.9 percent tumble. Economists polled by Reuters had forecast orders received by factories rising 1.5 percent.

The Institute for Supply Management said its May services index edged up to 53.7% in May from 53.1% in April, indicating a slight acceleration.

Top of Form Treasuries
5-Jun-13 Last Change 3-Month T-Bill 0.04% 0.00% 6-Month T-Bill 0.08% 0.00% 1-Year T-Bill 0.13% -0.01% 2-Year Note 0.29% -0.01% 3-Year Note 0.48% -0.01% 5-Year Note 1.02% -0.03% 10-Year Note 2.10% -0.04% 30-Year Bond 3.27% -0.02%

 

Top of Form Major Indices
5-Jun-13 Last Change 11th District COFI 0.970% 0.003% 1-Month LIBOR 0.193% 0.000% 6-Month LIBOR 0.413% 0.001% 12-Month LIBOR 0.686% -0.001% MTA Index 0.163% -0.006% Prime Rate 3.25% 0.00% Federal Funds Rate 0.25% 0.00% Discount Rate 0.75% 0.00%

 

Top of Form Mortgage Rates
5-Jun-13 Last Change 15-Year Fixed Freddie 2.98% 0.21% 30-Year Fixed Freddie 3.81% 0.22% 1-Year ARM Freddie 2.54% -0.01% 5/1-Year ARM Freddie 2.66% 0.03% Bottom of Form

 

 

APOR

30 Yr Fixed- 3.81%

5/1 ARM -     2.66%

 

 

ECONOMIC CALENDAR
	Event	Actual	Cons.	Previous
Jun 02	Fed's Bernanke Speech
	FOMC Member Yellen Speech
Jun 03	FOMC Member Williams speech
	Markit Manufacturing PMI (May)	52.3	52.0	52.1
	Construction Spending (MoM) (Apr)	0.4%	0.8%	-0.8%Revised from -1.7%
	ISM Manufacturing PMI (May)	49.0	50.5	50.7
	ISM Prices Paid (May)	49.5	49.7	50.0
	6-Month Bill Auction			0.08%
	3-Month Bill Auction			0.045%
	Total Vehicle Sales (May)		15.10M	14.88M
Jun 04	Trade Balance (Apr)		$-41.0B	$-38.8B
	Redbook index (MoM) (May 26)			0.6%
	Redbook index (YoY) (May 26)			2.7%
	ISM New York index (May)			58.3
	IBD/TIPP Economic Optimism (MoM) (Jun)			45.1
	4-Week Bill Auction			0.03%
	Fed's George Speech
	Fed's Richard Fisher's speech
Jun 05	MBA Mortgage Applications (May 31)			-8.8%
	ADP Employment Change (May)		170K	119K
	Nonfarm Productivity (Q1)		0.7%	-1.7%
	Unit Labor Costs (Q1)		0.5%	4.4%
	Factory Orders (MoM) (Apr)		1.4%	-4.0%
	ISM Non-Manufacturing PMI (May)		53.5	53.1
	EIA Crude Oil Stocks change (May 31)			3M
	Fed's Beige Book
Jun 06	Challenger Job Cuts (YoY) (May)			38.121K
	Philadelphia Fed's Plosser speech
	Initial Jobless Claims (Jun 1)		345K	354K
	Continuing Jobless Claims (May 25)			2.986M
	EIA Natural Gas Storage change (May 31)			88B
Jun 07	Nonfarm Payrolls (May)		168K	165K
	Average Hourly Earnings (MoM) (May)		0.2%	0.2%
	Average Hourly Earnings (YoY) (May)		2.1%	1.9%
	Average Weekly Hours (May)		34.5	34.4
	Unemployment Rate (May)		7.5%	7.5%
	Consumer Credit Change (Apr)		$11.50B	$7.97B