Total August Exports of $198.5 Billion and Imports of $238.6 Billion resulted in a goods and services deficit of -$40.1 Billion, down from -$40.3 Billion in July (revised). The goods and services deficit increased +$0.6 Billion from August 2013 to August 2014. Total Nonfarm Payroll employment increased by 248K vs. 180K prior (consensus 210K) in September, and the Unemployment Rate declined to a six month low at 5.9% vs. 6.1% prior (consensus 6.1%). The Labor Force Participation Rate contributed to the decline in the Unemployment Rate, down to 62.7% vs. 62.8% prior. Treasuriessold-off following the hotter than expected jobs data, and the curve is flat to yesterday’s 2:00 PM (PDT) close.
GNMA Issuer Fannie Mae and Freddie Mac Direct Lender Licensed throughout the U.S. and Puerto Rico Privately Held Mortgage Bank for Over 32 Years Excellent Underwriting / Funding Turn Times
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