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Nonfarm Payrolls 288k vs 210k Forecast; Bonds Tanking
- 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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