November 4th, 2013 10:38 AM by Gary Schiller
Today is a slow news day. Later this week we have the initial jobless claims and GDP which comes out on Thursday, and the October jobs report, which comes out on Friday. There has been speculation that the October jobs number could be as low as 125,000.00. Such a low number makes it easy for the actual jobs number to beat expectations, but any number under 140,000 will still be considered weak. This weekend various Fed officials have been publically speaking regarding QE3 tapering. While the Fed appears not to want to continue with the QE bond buying program, it continues to do so until there is a strong improvement in the economy, which means stronger employment numbers.
Stocks are opening flat and Mortgage bonds are starting the day higher. Mortgage rates are flat as compared to Friday November 01, 2013.