Week of April 8, 2012 thru April 14, 2012

Repeat:US BLS: Unemp Rate Down to 8.2% As Labor Force Shrinks


--Retransmitting Story Published 9:31 ET Friday
--March Payrolls Below Expectations at +120,000; Unemp Rate 8.192%

WASHINGTON (MNI) - March payroll gains did not reach expectations and the sensitive jobs category of temporary help leveled off but the unemployment rate improved a tenth to 8.2% as the labor force continued its unexplained contraction.

The Bureau of Labor Statistics Friday reported 120,000 additions to payrolls after seasonal adjustment, well short of the 200,000 expected. Health care's recent strength slowed slightly while retail employment declined by 34,000, two-thirds in department stores.

Obama Admin HAMP Program Continues To Make Modest Gains


WASHINGTON (MNI) - The Treasury Department Friday reported that the Obama administration's Home Affordable Modification Program continued to make modest gains in February.

According to the administration's monthly housing scorecard, which measures the progress of the HAMP mortgage modification program, 23,000 HAMP mortgage modifications were completed in February, a slight uptick from the 18,000 that were completed in January.

As of February, 974,000 first-lien mortgage modifications have been completed through HAMP, and 71,000 second liens have been modified through a similar program called 2MP.

The report said the pipeline of new trial first-lien modifications held steady at 14,000 from January to February.

US News Events Calendar


--Meetings & Events of Interest to Subscribers

DATE GMT / EST EVENT

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09-Apr 2315/1915 Federal Reserve Chairman Ben Bernanke will speak to an Atlanta Fed conference and after will engage in a brief, moderated Q&A session. Atlanta Fed President Dennis Lockhart will also speak at various times during the conference, as will Boston Fed Pres. Eric Rosengren, in Stone Mountain, Ga.

US News Events Calendar


--Meetings & Events of Interest to Subscribers

DATE GMT / EST EVENT

-------------------------------------------------------------------------

09-Apr 2315/1915 Federal Reserve Chairman Ben Bernanke will speak to an Atlanta Fed conference and after will engage in a brief, moderated Q&A session. Atlanta Fed President Dennis Lockhart will also speak at various times during the conference, as will Boston Fed Pres. Eric Rosengren, in Stone Mountain, Ga.

Federal Reserve State of Play- By Steve Beckner - April 6,2012


The chances of additional monetary stimulus have continued to ebb, judging from the rhetoric of Fed policymakers, but the door hasn't been completely closed on a possible third round of quantitative easing.

TheFXSpot: Weakish US Jobs Data Rains On Market's Risk Parade


NEW YORK, April 5 (MNI) - A weaker-than-expected U.S. non-farm payrolls report rained on a lot of parades Friday, especially for the U.S. traders unfortunate enough to be stuck working on a day that many other global centers had as a holiday.

US CBO Text: Sees -$196B March Govt Deficit Vs -$188b Yr Ago


--FY2012 YTD Federal Govt Deficit Now At -$777 Billion

WASHINGTON (MNI) - The following are excerpts from the Congressional Budget Office monthly budget review published Friday:

The federal government incurred a budget deficit of almost $780 billion in the first half of fiscal year 2012, CBO estimates$53 billion less than the shortfall during the same period last year. Revenues were about 4.5 percent higher and outlays slightly lower than the amounts recorded in the first six months of fiscal year 2011.

The Treasury reported a deficit of $232 billion for February, about $3 billion more than CBO's estimate based on the Daily Treasury Statements.

UPDATE: US News Events Calendar


--Meetings & Events of Interest to Subscribers

DATE GMT / EST EVENT

-------------------------------------------------------------------------

09-Apr 2315/1915 Federal Reserve Chairman Ben Bernanke will speak to an Atlanta Fed conference and after will engage in a brief, moderated Q&A session. Atlanta Fed President Dennis Lockhart will also speak at various times during the conference, as will Boston Fed Pres. Eric Rosengren, in Stone Mountain, Ga.

US BudgetWatch: Obama Ushers Ryan Budget Into Campaign Debate


--President Scorches Ryan Budget As 'Radical' Plan
--House Speaker Boehner, Rep Ryan Hammer Obama on Huge Deficits

WASHINGTON (MNI) - For a non-binding blueprint that was never expected to see the light of day after it left the House chamber, House Budget Committee Chairman Paul Ryan's fiscal year 2013 budget resolution has sure generated a lot of discussion and debate this week.

President Barack Obama decided to use the Ryan budget as a device to frame the fiscal debate in the coming presidential election.

US Debt Offering, Auction Calendar for Tsy and Agency Issues


April 6

Source: U.S. Treasury, Fannie Mae, Freddie Mac Amounts in billions of U.S.