Treasuriesarenearly unchanged across the curve this morning from yesterday's close. The UST10-Year yield is currently at 2.347% after closing at 2.346% during the prior session.
This morning we received the Nonfarm Payrolls for the month of October which reported that employers added 261k jobs following an upwardly revised 18k addition in September. We also received the U.S. unemployment rate which fell to 4.10% from 4.20% prior. The employment report was aided in part by hurricane-related hiring while continuing overall trends, achieving the lowest unemployment rate since 2000. The September trade deficit widened to $43.50 Billion from a revised $42.80 Billion deficit prior. Lastly, we received the September Factory Orders which rose better than expected at 1.40% versus 1.20% per consensus, while the Durable Goods Orders came in line with expectations rising 2.00% in September.
In other economic news, Jerome Powell was appointed yesterday as the next fed chairman. Traders are expecting the appointee to remain true to the forecast of gradual monetary tightening for the rest of 2017 and early 2018.
The curve has flattened with the UST10-year yield up 0.1 bp from prior closing.
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
This morning we received the Nonfarm Payrolls for the month of October which reported that employers added 261k jobs following an upwardly revised 18k addition in September. We also received the U.S. unemployment rate which fell to 4.10% from 4.20% prior. The employment report was aided in part by hurricane-related hiring while continuing overall trends, achieving the lowest unemployment rate since 2000. The September trade deficit widened to $43.50 Billion from a revised $42.80 Billion deficit prior. Lastly, we received the September Factory Orders which rose better than expected at 1.40% versus 1.20% per consensus, while the Durable Goods Orders came in line with expectations rising 2.00% in September.
In other economic news, Jerome Powell was appointed yesterday as the next fed chairman. Traders are expecting the appointee to remain true to the forecast of gradual monetary tightening for the rest of 2017 and early 2018.
The curve has flattened with the UST 10-year yield up 0.1 bp from prior closing.
Have A Nice Weekend!