Three prominent groups have advised Congress concerning deficit reduction (debt reduction & stimulating the U.S. economy):
Barry Renfroe
Sr. Vice President
brenfroe@mybankersbank.com
| TIB Fed Funds & MMDA Rates - Previous Day | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Agent | 0.20% | Prin | 0.05% | MMDA | 0.30% | ||||
| STAR Prin | 0.10% | STAR MMDA | 0.35% | ||||||
| Key Indices/Commodities | |||
|---|---|---|---|
| 1 - Month LIBOR | 0.26% | Dow Jones | 12705.41 |
| 3 - Month LIBOR | 0.52% | NASDAQ 100 | 2859.68 |
| 1-Yr LIBOR | 1.08% | S&P 500 | 1334.70 |
| 1-Yr CMT | 0.14% | Spot Gold | 1754.60 |
| Prime | 3.25% | Spot Silver | 34.05 |
| 3-yr LIBOR Swap/Offer | 0.59% | Spot Crude Oil | 96.98 |
| 5-yr LIBOR Swap/Offer | 1.01% | CRB Index | 312.60 |
| 3 Mo - Fed Fund Futures | 0.11% | 6 Mo - Fed Fund Futures | 0.12% |
| US Treasury Yields | US Non-Callable Agency Yields | ||
|---|---|---|---|
| Yield | Maturity | Yield | Spread |
| 0.00% | 90 - Days | ||
| 0.00% | 180 - Days | ||
| 0.17% | 2 - Year | 0.24% | 7bp |
| 0.27% | 3 - Year | 0.42% | 15bp |
| 0.72% | 5 - Year | 1.00% | 28bp |
| 1.88% | 10 - Year | 2.32% | 44bp |
| 3.09% | 30 - Year | ||
| 171 BPs | Yield Curve(2's-10's) | ||
| Sample 1x Callable Agency Issues | |||
|---|---|---|---|
| Description | Call Date | YTC | YTM |
| FNMA 1.05 2/27/17 | 2/14 | 1.05% | 1.05% |
| Select MBS Levels | |||
|---|---|---|---|
| Description | Coupon | Yield | Spread/Duration* |
| 15-Yr FNMA | 3.50% | 2.19% | 150 / 4.30 |
| 30-Yr GNMA | 3.50% | 2.97% | 85 / 9.99 |
| *Duration @ 12 month Historical CPR | |||
| Morning Commentary: | Reed Bateman |
|---|---|
The first Friday of each month is always an exciting one with nonfarm payroll and unemployment releases, and today certainly didn’t disappoint. Despite an ADP employment release on Wednesday that was lower than forecast and revised lower for the previous month, today’s releases paint a different picture. Nonfarm payrolls increased by 243K in January, substantially more than the 140K estimate, and the unemployment rate declined from 8.5% to 8.3%. The drop in the unemployment rate drop can be somewhat contributed to a large 0.3% decline in the participation rate, as people left the work force. Private and manufacturing payrolls jumped sharply as well, up 257K and 50K respectively. While the unemployment rate did decline to the lowest level in three years, the U6 underemployment rate, which includes marginally attached and part time workers is still quite high at 15.1%. As you can imagine, Treasuries sold off in price immediately after the release. Just before 8 central, we have the 10-year down 3/4ths of a point in price and yielding 1.90%, with shorter maturities off a little less and longer maturities off more as the curve has steepened. Dow futures reflect an open 100 points higher as the increase in hiring shows companies are confident about the economy going forward. |
|
Information contained herein is based on sources we believe to be reliable but its accuracy is not guaranteed. Customers should rely on their own outside counsel or accounting firm for specific circumstances. The securities, yields or levels discussed herein are for illustration purposes and are not guaranteed, not obligations of any bank, thrift or other entity and are not insured by the FDIC.
Permalink [ http://www.mybankersbank.com/tib-ticker/archive/date/2012-02-03
]
Manager Newsletters [ Subscribe / Unsubscribe
] | Return to the TIB Home Page |
Search TIB Ticker Archives
• Investment Sales • A/L Management • Portfolio Accounting • Safekeeping • Fed Funds • Trust Preferred • Call us at 800.374.4842.