5/7/10

This morning Non-farm Payroll came in at +290,000, the Unemployment Rate came in at 9.9%, and Hourly Earnings were unchanged. It is a strong gain for payrolls, along with some upward revisions in prior months. Just like a spring, markets tend to bounce or retract a little after a big move. We’re seeing that this morning, with stocks up, mortgage rates have worsened a bit.