Good Tuesday AM from your Hometown Lender,

The bond market improved a bit since yesterday.

Reprice risk on the day today is moderate, while it looks like we shouldn’t have to worry much, in the current environment you just can never be sure. There’s no economic data today to worry about, and no big headlines. Tomorrow morning brings CPI inflation data, ahead of lenders setting rates. If it comes in hot, it could see worse pricing, but any reaction we do see shouldn’t be anything that starts a rally or a sell off.

Dr. Elliott Eisenberg shared even more insight on last Friday’s jobs numbers.

I am not sure anyone else is listening other than me (and now, you).

The employment picture is not good… Despite lousy atmospherics, net May job growth was a decent 139,000. But the report wasn’t as strong as the headline. The labor force participation rate slid to 62.4% from 62.6%. Had it remained unchanged, the unemployment rate would have hit 4.6%! Moreover, March/April employment growth was downwardly revised by 95,000. Lastly, the Household Survey cratered by 696,000. That said, the headline gives the Fed more time before it must move. 

Stay safe and make today great!