Treasuries are slightly higher across the curve this morning from the close of yesterday’s session. The UST10-Year yield is currently at 2.938% after closing at 2.947% prior.
Nonfarm Payrolls for the month of April rose 164k following an upwardly revised 135k increase prior, falling 29k short of an expected 193k gain per consensus. Private Payrolls for April also came in below expectations at 168k versus 190k per consensus, but produced an increase of 33k from an upwardly revised 135k prior. Manufacturing Payrolls for April posted a solid 24k gain following a 22k addition prior, besting an expected 20k increase per consensus. The Unemployment Rate dropped from 4.10% prior to 3.90% in April, signaling a continued strengthening in the labor market.
This information is provided solely for informational use and is not intended as trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not a licensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice
Nonfarm Payrolls for the month of April rose 164k following an upwardly revised 135k increase prior, falling 29k short of an expected 193k gain per consensus. Private Payrolls for April also came in below expectations at 168k versus 190k per consensus, but produced an increase of 33k from an upwardly revised 135k prior. Manufacturing Payrolls for April posted a solid 24k gain following a 22k addition prior, besting an expected 20k increase per consensus. The Unemployment Rate dropped from 4.10% prior to 3.90% in April, signaling a continued strengthening in the labor market.
Average Hourly Earnings month-over-month rose less than expected at 0.10% versus 0.20% per consensus. Further, the March earnings data was downwardly revised from 0.30% to 0.20%, bringing the Average Hourly Earnings year-over-year to 2.60% versus an expected 2.70% per consensus. Lastly on the calendar today are several Fed speeches from Fed Dudley in New York, while Fed Williams, Quarles, George, Bostic and Kaplan speak at the Hoover Institution Policy Conference in San Francisco.
The curve has bull-flattened with the UST 10-Year yield down 0.9 bp from prior closing.
Have A Lovely Weekend!