Mortgage Blog

Job numbers this Friday
July 6th, 2018 6:40 PM

Friday saw a monthly jobs report that was slightly stronger than expected,
and with upward revisions for the prior two months. Unemploy-ment ticked up just a bit,
though, which was explained away as more people finally declaring themselves to be
part of the work force.  Seasonal adjustments are supposed to factor out the fact that
a bunch of young people just graduated from college, but there is great room for
statistical monkey business within those adjustments.

Wall Street was initially unsure of how it felt about the jobs report, but then traders
eventually decided they liked it resulting in a fairly strong up day, and on strong
breadth numbers.

I read the following from a newsletter:   Interest-rate sensitive dividend stocks such
as telecoms and pipelines had a tough first half as the Fed continued their interest rate
hikes. Maybe that's why some telecom stocks were down. The borrowing cost was high
for those  companies when the interest rates are higher. Maybe next time we should purchase those stocks when Fed started lowering the rates.

Posted in:General
Posted by Eric Fang on July 6th, 2018 6:40 PMPost a Comment

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