Triangle Business Today

Jobs show growth as year begins

Posted January 5, 2012

Jobs are heading in the right direction as we start off the year – the ADP Employment Report delivered a huge number this morning with the creation of 325,000 Jobs in December. Jobless Claims were down this morning by 15,000 to a seasonally adjusted figure of 372,000 – and while that figure is still considered to be elevated, it’s moving in the right direction.

The market reaction to this was slight in the bond market – with the 10 Year Yield moving north of 2 percent briefly before settling back below 2 percent by mid-morning – meaning that mortgage rates are trading narrowly so far this morning. European Debt concerns continue to outweigh domestic economic data as it relates to mortgage rates and treasuries.

The Fed has decided that more transparency is just what the markets need, and because of this they will now be forecasting their rate intentions on a quarterly schedule. This will give the markets better guidance for just how long the Fed intends to keep rates at historic lows. Their first forecast will be included in their projections which will be available after their January 24-25th meeting.


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About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.