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MBS  +10/32 @ 104.31     10 Yr Treasury +14/32 @ 2.600      Dow -128@ 15,062

 

Weaker than expected labor market data lifted MBS this morning. With the release of Friday's Employment report in doubt due to the government shutdown, today's data from ADP took on added significance. The ADP payrolls firm forecast for private sector job gains in September was 166K, below the consensus of 180K. In Europe, the ECB made no change in rates, as expected. No more economic data will be released today.

 

Top of Form Treasuries
2-Oct-13 Last Change 3-Month T-Bill 0.01% 0.00% 6-Month T-Bill 0.03% -0.01% 1-Year T-Bill 0.09% -0.01% 2-Year Note 0.33% -0.02% 3-Year Note 0.61% -0.03% 5-Year Note 1.37% -0.06% 10-Year Note 2.60% -0.05% 30-Year Bond 3.68% -0.04%

 

Top of Form Major Indices
2-Oct-13 Last Change 11th District COFI 0.954% 0.000% 1-Month LIBOR 0.176% -0.002% 6-Month LIBOR 0.367% -0.001% 12-Month LIBOR 0.623% -0.004% MTA Index 0.149% -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
2-Oct-13 Last Change 15-Year Fixed Freddie 3.37% -0.17% 30-Year Fixed Freddie 4.32% -0.18% 1-Year ARM Freddie 2.63% -0.02% 5/1-Year ARM Freddie 3.07% -0.04% Bottom of Form

APOR (Changes Mondays)

30 Yr Fixed-  4.38%

15 Yr Fixed- 3.47%

5/1 ARM -      2.96%

7/1 ARM   -    3.27%

10/1-ARM -  3.79%

 

Economic Calendar

 

Event	Actual	Cons.	Previous
Sep 30	Chicago Purchasing Managers' Index (Sep)	55.7	54.0	53.0
	Dallas Fed Manufacturing Business Index (Sep)	12.8	5.0	5.0
	3-Month Bill Auction			0.02%
	6-Month Bill Auction			0.05%
Oct 01	Redbook index (YoY) (Sep 22)			3.6%
	Redbook index (MoM) (Sep 22)			-0.4%
	Markit Manufacturing PMI (Oct)		52.8
	Construction Spending (MoM) (Aug)		0.4%	0.6%
	ISM Manufacturing PMI (Sep)		55.0	55.7
	ISM Prices Paid (Sep)		55	54
	4-Week Bill Auction			0.015%
	Total Vehicle Sales (Sep)		16.00M	16.09M
Oct 02	MBA Mortgage Applications (Sep 27)			5.5%
	ADP Employment Change (Sep)		177K	176K
	ISM New York index (Sep)			60.5
	EIA Crude Oil Stocks change (Sep 27)			2.635M
	Federal Reserve Bank of Boston President Rosengren Speech
	Fed's Bernanke Speech
Oct 03	Challenger Job Cuts (YoY) (Sep)			50.462K
	Initial Jobless Claims (Sep 27)		315K	305K
	Continuing Jobless Claims (Sep 20)		2.810M	2.823M
	Factory Orders (MoM) (Aug)		0.7%	-2.4%
	ISM Non-Manufacturing PMI (Sep)		57.0	58.6
	EIA Natural Gas Storage change (Sep 27)			87B
	FOMC Member Williams speech
	Fed's Richard Fisher's speech
	FOMC Member Powell Speech
Oct 04	Nonfarm Payrolls (Sep)		179K	169K
	Average Hourly Earnings (MoM) (Sep)		0.2%	0.2%
	Average Hourly Earnings (YoY) (Sep)			2.2%
	Average Weekly Hours (Sep)		34.5	34.5
	Unemployment Rate (Sep)		7.3%	7.3%
	Fed's William Dudley speech
	FOMC Member Stein Speech
	Fed Minneapolis's Narayana Kocherlakota speech