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Market Commentary

Market Commentary

October 03, 2014
10-YEAR NOTES   99-11 (-06.5) 2.450%
FN 3.5% COUPON   102-20 (-03)
SUPPORT   2.660%
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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. Treasuries sold-off following the hotter than expected jobs data, and the curve is flat to yesterday’s 2:00 PM (PDT) close.

Have a nice weekend everyone !

Today's Events:

10/03 Trade Balance 05:30 August -$40.80 Billion -$40.10 Billion -$40.50 Billion -$40.30 Billion
10/03 Nonfarm Payrolls 05:30 September 215K 248K 142K 180K
10/03 Unemployment Rate 05:30 September 6.10% 5.90% 6.10% -
10/03 Markit Services PMI 06:45 September F 58.50 - 58.50 -



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