http://MikesDailyMarketReport.com: Non-Farm Payrolls disappointed with 145k jobs in December based on 156k forecasts. November and October numbers were revised lower by 14k. However, the Unemployment Rate remains Unchanged at 3.5%. Average Hourly Earnings also disappointed, as it only rose 0.1%, as forecasts called for 0.3%. We'll watch these numbers, as it appears that we're seeing Weekly Earnings decreasing, which may be an indicator that Businesses may be cutting back on hours and employment income in order to avoid job cuts. Stocks are currently trading in light trade in Positive Territory. The delegate from China is expected to arrive on Monday for the Phase One signing. MBS rebounded nicely late yesterday and that momentum is carrying on this morning, as MBS is Up 5bps. Mortgage Rates have improved from yesterday mornings pricing. Yields are now at 1.83%.
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