August NFP: -216,000. July revised higher to -276k from -247k
Unemployment Rate: 9.7% after 9.4 July reading
Average work week: 33.1 hours vs. 33.1 in July
Average Earnings: +0.3% vs. +0.3% July
Headline News Knee Jerk Reaction: stock futures fall. TSY futures rise.
Knee Jerk Reaction to Initial Knee Jerk Reaction: Stock futures bounce higher. TSY futures fall.
Here is the MBS market's reaction to the Employment Situation Report...
Its going to be a choppy morning...will update as market stabilizes.
MBS Market Alerts
