Commentary: As you no doubt know by now the economy created 192,000 net new jobs in February. The national jobless rate dropped to 8.9% from January's mark of 9.0%. Hiring accelerated in almost every sector of the economy last month. Government employment fell by 30,000 -- contracting for a fourth straight month, pulled down by state and local governments enduring heavy budget pressures.
A separate report today showed that orders to U.S. factories climbed in January by the most in more than four years as demand for commercial aircraft rebounded after slumping the previous month. Bookings for manufacturer's good rose 3.1%, the biggest gain since September 2006. (Thanks to Timothy R. Homan of Bloomberg.com for the report detail here.)
Looking ahead to next week the trend trajectory of mortgage interest rates will likely be most influenced by the results of the Treasury Department's three-part auction occurring from Tuesday to Thursday together with news headlines breaking daily from North Africa and the Middle East.
THE MARKET IS ALWAYS RIGHT! . YOU AND I ARE SOME OF THE TIME
