Michael DeChristofano's (mldoo7) Blog

The stock market opened +102 points on the DJIA, the 10 yr note at 9:30 off 10/32 at 2.98% with mortgage prices -1/32 (.03 bp). As we have noted for the past few days the markets (bonds, mortgages, and equity markets) all over-extended and overdue for reversals. Not a trend change though, just th...

   The headline this evening in the newspapers will be that the unemployment rate declined from 9.7% in May to 9.5% in June; the sub-text however isn't that cheery, the labor force decreased by 652K. Non-farm jobs declined 125K about what was expected, 225K jobs were cut from the census workers ...