Money Market Recap and Forecast from the Daily Communicator

March 8th, 2010

Written by Frost Mortgage

The benchmark 10-year note barely moved the first four days of last week. Uncertainty about what the Fed will do, a mixed group of economic reports, conflicting signals about the direction of the economy and caution prior to the February employment left the 10-year yield, which moves in the opposite direction of price, right around 3.60% — until Friday, that is.

The jobs report showed 36,000 workers dropped from nonfarm payrolls last month — far less than expected but more than the 20,000 lost in January. The unemployment rate held at 9.7%, but many had expected an increase.

Because this report was better than predicted, selling in Treasuries was aggressive, sending prices down and yields to their highest levels in more than a month. Friday’s report could indicate that the employment picture is improving, which would reduce the need for risk-free investments. This, of course, would push yields up.

If you’re interested in reading the entire report, published every day and packed with valuable information you can use in your business from mortgage industry leader Greg Frost, please visit The Daily Communicator: http://www.thedailycommunicator.com/

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This entry was posted on Monday, March 8th, 2010 at 12:33 pm and is filed under Monday Money Market Recap & Forecast. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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