Posted To: MBS Commentary
Given that this week's ADP employment numbers and the employment component of the ISM Manufacturing numbers both came in much stronger than expected, it's somewhat puzzling that we haven't seen an upward revision for today's NFP release. Typically, economists and forecasters will make course corrections in their estimates with far less motivation than that. Nonetheless, today's median forecast remains at 175k. So, that's the same 175k that existed before we witnessed more justification for a higher forecast, you take my meaning. Simply put, even if economists haven't officially revised forecasts higher, market participants realize upward revisions were warranted . That actually works in our favor as it means the NFP number probably has some room to beat the consensus...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2l2Z0Lj
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