Friday, October 4, 2019

Daily Market Report 10/4/19 The BLS' Non-Farm Payroll produced 136k jobs for September, which is down from 168k in August, and below it's forecast of 150k.  However, there was an upward revision of 45k jobs for the previous 2 months, which brought the 3 month average of 157k jobs.  This helped with Investors Sentiment.  Also, the Unemployment Rate dropped from 3.7% to 3.5% (lowest since 1969).  The Average Hourly Earnings remained Unchanged in September, which it's Yearly Average dropped from 2.9% to 2.6%.  This data may assist the Fed with their thoughts at it's next FOMC on possible Rate Cuts, as this data suggests less stress on Inflationary numbers.  Stocks are in Positive Territory after a rough week.  It's been a week of Data driven sentiment, which has been disappointing, and would have been disappointing today, if not for the revision to the prior 2 months Jobs data.  MBS is Up 11bps and right up to it's next resistance level.  Meanwhile, Yields continue downward and are sitting at 1.52% this morning.

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