Market Update

FNMA 30-YR 4.0%

Previous close 98.060
Opened Down 0.25bp @ 97.813

Key Economic Data:

EUR / USD  1.3582  Down  0.0053
USD / JPY  81.7345  Up  0.1075
GBP / USD  1.6078  Down  0.0058

OIL  91.34  Up  0.80
Gold  1,352.50  Down  0.50

Key Economic News:

Jobless rate falls to 9.0% in January; Payrolls rise 36,000

The jobless rate unexpectedly fell in January to the lowest level since April 2009, while payrolls rose less than expected, depressed by winter storms. Unemployment declined to 9.0% from 9.4% in December. Employment rose by 36,000 workers, the smallest gain in four months, after 121,000 rise in December that was larger than initially reported. Payrolls were projected to climb to 146,000. Payrolls in construction and transportation, industries most effected by bad weather, dropped in January, while factory employment rose the most since August 1998.

Advice:

If you like to gamble, you might want to float today. But I would recommend you lock today.