Good Afternoon,
No April Fools' jokes here...
The ADP numbers showed 742,000 jobs lost in March, far worse than expectations of 663,000 jobs lost and the worst reading in ADP's nine years of reporting as the labor market continues to struggle.
However, there is a ray of hope for the labor market. Earlier today, Challenger, Gray & Christmas, an executive outplacement company, released some findings on the job front that were somewhat favorable, stating that planned layoffs at US firms fell in March to their lowest in six months. Not too much else to report at this time.
Mortgage Bonds have so far been fairly unfazed by the morning's news and are currently trading just slightly lower on the day. For now, I will continue to recommend Floating. Certainly, if anything prompts a change in course, I will definitely let you know. In the meantime, I hope that you enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.
Wednesday, April 1, 2009
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