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Nonfarm Payrolls 288k vs 210k Forecast; Bonds Tanking
Posted to: Micro News
Friday, May 02, 2014 8:34 AM

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  • April NFP 288k vs 210k forecast
  • March revised to 203k from 192, Feb revised to 222k from 197
  • Private Payrolls 273k vs 210k forecast
  • Unemployment Rate 6.3 pct, lowest since Sept 2008, 6.7pct forecast/previous

As you might expect, this number is not good for bond markets, and so the range is likely to persist.  10yr yields shot immediately from 2.62 to 2.68--which is actually not that big of a move considering the data.  Fannie 4.0 MBS lost an immediate 3/8ths of a point and are currently down 13/32nds on the day at 104-18.

More to follow as the market trades this out.




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