Rate Watch 3-5-2009

Cautioulsy Floating:
Stocks lower this morning as Mortgage Bonds push higher. Traders anticipate a lousy Jobs Report tomorrow. Productivity in the fourth quarter dropped as the economy contracted faster than companies cut jobs and hours. And while the number of Initial Jobless Claims was slightly better than expected, the four-week moving average of Jobless Claims reached the highest level since October 1982. Tomorrow's Jobs Report is expected to be dismal, estimates are for 650,000 jobs lost, but the number could be even higher.