Economic News for February 1, 2008

The economic numbers have come in mixed today.  So far the mortgage backed securities market is responding well; FNMA 30yr 5.5% is +12bp.  This should result in slightly lower rates this morning. 

Hourly Earning | Estimated 0.3% | Previous 0.4% | Actual 0.2% [weakness]

Average Work Week | Estimated 33.8 | Previous 33.8 | Actual 33.7 [weakness]

Non-Farm Payrolls | Estimated 70k | Previous 82k | Actual -17k [very weak]

Unemployment Rate | Estimated 5.0% | Previous 5.0% | Actual 4.9% [growth]

ISM Indicator | Estimated 47.5 | Previous 47.7 | Actual 50.7 [growth]

Consumer Setiment | Estimated 79.0 | Previous 80.5 | Actual 78.4 [weakness]