All Things in Moderation

Vital Statistics:

Stocks are higher as we head into a 3 day weekend. Bonds and MBS are up small. Note the bond market has an early close today.

The jobs report was a mixed bag this morning. Payrolls came in at 850,000, which was higher than the Street estimate. The 2 month revision was also modestly positive. The unemployment rate ticked up from 5.8% to 5.9%, and the labor force participation rate was flat at 61.6%. Average weekly earnings came in at 3.6% versus expectations of 3.4%.

Overall, the report was more or less a push for the bond markets, and bonds are down modestly on the report.

The CFPB is warning landlords to not report inaccurate information on credit reports. “Errors in your tenant screening report shouldn’t hold you back from having a place to call home,” said CFPB Acting Director Dave Uejio. “For families already struggling to make ends meet, an inaccurate report can be the difference between homelessness or settling into a safe and affordable home. Landlords and consumer reporting agencies have clear obligations under federal law, regarding the accuracy of information reported about tenants, and to conduct timely investigations when consumers dispute information. They need to get this right. The CFPB will closely monitor their compliance, and we will use all the tools at our disposal including enforcement, to protect consumers during this critical time.”

The title of the memo from the CFPB is “As Federal Eviction Protections Come to an End, CFPB Warns Landlords and Consumer Reporting Agencies to Report Rental Information Accurately.” Presumably this means that the government plans to end the eviction and foreclosure moratorium soon.

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