The unemployment numbers never cease to amaze. It is such a toss up between expectations and reality. Today's nonfarm payroll number was -54K when the consensus was -105K. And, if that was not enough, last month's number was revised to -54K from -131K. The employment rate went up by .1% this month to 9.6%. The private sector has had positive job growth every month this year. As a result, MBS prices are off this morning and the 30 year fixed FNMA required net yield (60 Day) is now at 3.85%Next week is very light on data. We will have the biweekly Treasury sales scattered throughout the week and the market holiday on Monday.
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