More on todays market

MBS  -1 & 1/32  @ 99.19       10 Yr Treasury  -1 & 13/32 @ 2.680     DOW   +10@ 14999

 

 

Stronger than expected Employment data crushed MBS prices this morning. Against a consensus forecast of 160K, the economy added 195K jobs in June, and upward revisions to the figures from prior months added another 70K. The Unemployment Rate remained at 7.6%. Average Hourly Earnings, a proxy for wage growth, increased more than expected. In short, this report exceeded expectations in nearly every area. The European Central Bank (ECB) made no change in rates, but the ECB President said that he expects rates will "remain at present or lower levels for an extended period of time." Uncertainty in Egypt continued to push oil prices higher. No more economic data will be released today.

Top of Form Treasuries
5-Jul-13 Last Change 3-Month T-Bill 0.04% 0.00% 6-Month T-Bill 0.08% 0.01% 1-Year T-Bill 0.14% 0.01% 2-Year Note 0.37% 0.01% 3-Year Note 0.73% 0.07% 5-Year Note 1.47% 0.05% 10-Year Note 2.56% 0.04% 30-Year Bond 3.54% 0.04%

 

Top of Form Major Indices
5-Jul-13 Last Change 11th District COFI 0.951% -0.019% 1-Month LIBOR 0.190% 0.000% 6-Month LIBOR 0.410% -0.005% 12-Month LIBOR 0.690% -0.001% MTA Index 0.159% -0.004% 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-Jul-13 Last Change 15-Year Fixed Freddie 3.39% -0.11% 30-Year Fixed Freddie 4.29% -0.17% 1-Year ARM Freddie 2.66% 0.00% 5/1-Year ARM Freddie 3.10% 0.02%

 

 

 

APOR

30 Yr Fixed- 4.35%

5/1 ARM -     3.02%

 

Event	Actual	Cons.	Previous
Jun 30	Treasury Sec Lew Speech
Jul 01	Markit Manufacturing PMI (Jun)	51.9	50.6	52.3
	Construction Spending (MoM) (May)	0.5%	0.6%	0.1%Revised from 0.4%
	ISM Manufacturing PMI (Jun)	50.9	50.5	49.0
	ISM Prices Paid (Jun)	52.5	51.5	49.5
	6-Month Bill Auction			0.105%
	3-Month Bill Auction			0.06%
Jul 02	Redbook index (YoY) (Jun 23)			2.8%
	Redbook index (MoM) (Jun 23)			-0.5%
	ISM New York index (Jun)			54.4
	Factory Orders (MoM) (May)		2%	1%
	IBD/TIPP Economic Optimism (MoM) (Jul)		49.3	49.0
	4-Week Bill Auction			0.03%
	Fed's William Dudley speech
	Total Vehicle Sales (Jun)		15.4M	15.3M
	FOMC Member Powell Speech
Jul 03	MBA Mortgage Applications (Jun 28)			-3%
	Challenger Job Cuts (YoY) (Jun)			36.398K
	ADP Employment Change (Jun)		160K	135K
	Initial Jobless Claims (Jun 29)		345K	346K
	Continuing Jobless Claims (Jun 22)		2.950M	2.965M
	Trade Balance (May)		$-40.10B	$-40.29B
	ISM Non-Manufacturing PMI (Jun)		54.0	53.7
	Treasury Sec Lew Speech
	EIA Crude Oil Stocks change (Jun 28)			0.018M
	EIA Natural Gas Storage change (Jun 28)			95B
Jul 04	Independence Day
Jul 05	Nonfarm Payrolls (Jun)		170K	175K
	Average Hourly Earnings (MoM) (Jun)		0.2%	0.0%
	Average Hourly Earnings (YoY) (Jun)			2%
	Average Weekly Hours (Jun)		34.5	34.5
	Unemployment Rate (Jun)		7.5%	7.6%