Spock; Jobs Report Friday
March 3, 2015
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Spock. I’m a self-proclaimed science fiction geek. If you’ve been reading my posts for a while, then you probably already know this to be true. But what you may not have known is that I have a special love for all things Star Trek. Furthermore, my admiration for Spock, or Lenard Nimoy if you please, is right up there with my all-time favorites. I will no doubt be writing more about this…for now I haven’t the time to adequately express the loss.
My Market Update – 03/03/2015
Bonds Down -2bps. The 30-year Fannie Mae bond is down -2bps since yesterday’s close. Generally a lender’s pricing worsens when the bond is being sold off.
Today should be quiet after yesterday’s NASDAQ victory. Friday is the all important Jobs Report. The Jobs Report indicates how many new jobs were created in February. The results change the way traders interpret the economy…either stronger or weaker…and in turn affect their buying and selling behavior with respect to stocks and bonds. This week trading is only in anticipation of what the actual report will show. But when Friday hits, a reaction could be dramatic depending on how far off expectations the actual numbers report. Last month this report killed us and threw the bond market into the gutter for the entire month of February. On Thursday I’ll have some better information to share…