Sizeable, Straightforward Selling Spree

Today's jobs report was much stronger than expected and there were no compelling counterpoints to give traders any second thoughts.  As such, traders proceeded logically by dumping bonds.  Trading levels hit the 3pm close very close to the levels seen immediately after the jobs report and there wasn't much fanfare in between. All in all, a reaction that was as straightforward as it was unpleasant.

Econ Data / Events
    • Nonfarm Payrolls
      • 256k vs 160k f'cast, 227k prev
    • Unemployment Rate
      • 4.1 vs 4.2 f'cast, 4.2 prev
Market Movement Recap
08:47 AM

big selling after data.  MBNS down half a point.  10yr up 8.9bps at 4.773

10:31 AM

Decent recovery in Treasuries with 10yr yield now up only 4.8bps at 4.734.  MBS down 14 ticks (.19).

02:42 PM

MBS as new lows, down nearly 5/8ths.  10yr up 8.1bps at 4.765