Market Analysis

Bonds were slightly better in early morning trading are starting to improve further.  Mortgage rate sheets opened worse but we are now getting an update which should be available by 10 am.

In economic news, October's Non Farm Payroll reports showed an increase of 80,000 payrolls which was just under the 85,000 expected.  The Private Sector added 104,000 jobs vs 117,000 expected.  The Public Sector shed 19,000 jobs vs expectations for a negative 32,000 figure.  The national Unemployment Rate dropped to 9.0% from 9.1%.

In European news, Greek Prime Minister George Papandreou faces a confidence vote in Parliament today. Regardless of whether or not he survives, the public referendum on the bail-out deal appears to be off the table.