9/30/09

Today we had the ADP (non farm employment) jobs number which showed more job losses than estimated, and the final GDP number for the 2nd quarter. The Commerce Department's final number for GDP (Gross Domestic Product) showed it fell at a 0.7% annual rate instead of the 1.0% decline reported last month, in theory better for the economy and worse for rates especially since he economy is believed to have rebounded in the last few months – or at least leveled off. After the news mortgage prices are slightly worsened. No additional data due; all about trading off stocks through the rest of the day