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The Bureau of Labor Statistics has released the July Employment Situation Report (after a 30 minute delay). Total nonfarm payroll employment increased by 117,000 in July, following little growth over the prior 2 months. Total private employment rose by 154,000 over the month, reflecting job gains in several major industries, including health care, retail trade, manufacturing, and mining. Government employment continued to decline. The unemployment rate was little changed at 9.1 percent. Reuters Quick...

Although Moody’s threatened to downgrade the U.S. credit rating again and Greece agreed to another bailout “in principle”, which led to a short selling spree early this afternoon and pumped up trading volume even more, profit taking was the name of the game in the bond market today. Scattered reprices for the worse were reported this afternoon after profit taking pushed benchmark Treasuries through key support and almost totally erased yesterday's MBS rally. As mentioned in two...

The bond market has effectively been rallying since the 10th of February. There are two ways to look at that rally, as either CORRECTIVELY BEARISH or TREND CHANGING BULLISH. We had a chance today to see if evidence toward the latter could be further accumulated, but those hopes were crushed by a sell-off. When looking at a broader view of the situation, it can be viewed as a logical division between a "then" and "now" range. And so it is, we find ourselves heading into tomorrow's Employment Situation...

The December Employment Situation Report has been released. The market is digesting two diverging headlines. ...

The October Employment Situation Report has been released. Nonfarm payrolls grew by 151,000, this was much better than calls for a +60,000 print. The private sector added 159,000 jobs vs. estimates for a read of +75,000. The Unemployment Rate was unchanged at 9.6%. Average Hourly Earnings were up 0.2% and the Average Work Week rose to 34.3 hours from 34.2. ...

20,000 jobs were lost in January according to the Bureau of Labor Statistics. The unemployment rate fell from 10.0% to 9.7%. This will surely grab headlines......

THE BOND MARKET'S INITIAL REACTION HAS BEEN FAVORABLE...but temper your excitement because we have not broken out of the recent range yet. The FN 4.0 is +0-12 at 97-13 and the FN 4.5 is +0-09 at 100-13. Running into resistance at the 100-14 pivot again....