Daily Market Update 10/2/09

Rates inched lower Friday following September’s Nonfarm Payrolls Report. The economy lost 263,000 jobs last month, well above consensus forecast. The Unemployment Rate matched expectations at 9.8%, the highest level since June 1983. The Fannie Mae 30-year fixed rate is now at its lowest level since May 21. Next week will be relatively quiet in terms of economic data. Investors will likely turn their focus to the Treasury auctions of 10-year notes on Wednesday and 30-year bonds on Thursday. No other data will be released today.

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