The November jobs report was released today showing some of the worst numbers in decades. Non-farm payrolls dropped 533,000 last month and was only the fourth time in 58 years that our economy lost over 500,000 jobs. The unemployment rate ticked up to 6.7%, the highest since October of 1993.
The news sent the Stock markets lower while the Bond markets didn't have much of a reaction. We are currently in a bad economy and only news of a better report would have been a surprise.
For today, I will continue to recommend floating, but be ready to lock because sentiment can quickly change.
Friday, December 5, 2008
Market Watch 12.5.08
Labels:
banks,
bonds,
central banks,
credit,
economy,
federal funds rate,
feds,
jobs report,
market watch,
mortgage,
mortgage rates,
stocks
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