First Full Week of 2014 Points to Jobs Numbers on Friday:-  Now that everyone seems to be trickling back to work from the holidays, the first full week of January could prove to be a fun one. This year, as the holidays were spread apart from Hanukkah which started November 27 through December 5, Thanksgiving on November 28, and Christmas and New Year’sbig week in mortgage rates Day falling in the middle of the week, many businesses ran a bit short handed.

That and company parties along with travel kept much economic activity on the sidelines. On Wall Street and other exchanges, trading days were cut short and closed. But the real world hits again on Monday, January 6, 2014 and what a week we’ve got coming.

The biggest bit of data will be on Friday, but there are lots of potential fireworks before then. On Monday, the Senate is prepared to official approval Janet Yellen as the new Fed Chief. Since her nomination last fall, it makes sense that she’s had considerable input as to the future of interest rates, QEIII and other Fed policy matters. It’s doubtful she’ll make any major course changes other than what the Fed has recently announced. Speaking of the Fed, the minutes from the last meeting will be released on Wednesday, ahead of the next Fed meeting later this month when another $10 billion taper will be announced.

It’s possible that the bond markets won’t make it through the week without a little bruising. At the end of 2013, the benchmark 10-year landed at 3.03 percent, its highest in 30 months. The first week will also see auctions for longer term 3, 10 and 30 year bonds and if there aren’t as many buyers as sellers, rates could continue to inch up.

Then on Friday, the unemployment report will be released along with the non-farm payroll numbers. The unemployment rate, currently at 7.00 percent will have less of an impact compared to the jobs number. The markets are looking for consistency and if another 200,000 jobs are tallied for December, we could see interest rates creep ever closer to the 4.75 percent mark on the 30 year fixed rate conforming loan.