This Weeks Closing Snapshoot

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The employment picture in the U.S. continues to be a drag on the economy as evidenced by the 10.2% Unemployment Rate in October.

There were also 190,000 jobs lost last month, more than the -175,000 that was expected. The weaker than expected data lifted the Bond markets today.

The benchmark 4.5% coupon closed at $101.28 up 22bp.

The $8,000 tax credit for first time home buyers was extended through April 30, 2010 with an additional two months available to close the deal.

Existing home owners will also benefit with a $6,500 tax credit for the same time period.  There are strings so speak with your tax professional for details. 

Stocks didn’t have much movement today – the Dow gained 17 points to 10,023.42, the S&P 500 Index 2 points to 1,069.30, while the Nasdaq rose 7 points to 2,112.44.

Crude oil fell $2.19 to $77.42/barrel as investors feel that the high unemployment could lower demand – Gold hit a record high of $1,100/oz in today’s trading.

Next week on the economic calendar is light but the Treasury will auction yet another $81B in notes and bonds.   

Have a great weekend.

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