To be sure, there was at least some amount of trepidation ahead of today's jobs report.  The past 2 trading days made a clear case for it with stronger ADP employment, a big beat in ISM services data and of course the heads-up about re-opened US/China trade talks.  Granted, several indicators held out hope for a lackluster NFP number, but one never can be sure when it comes to a report with such a pedigree for surprise.  Combine that with an even stronger pedigree for a bond market response and the trepidation is totally justified.

A 130k print versus a 158k forecast, then, was enough to calm nerves and allow bonds to coast back in line with yesterday's latest levels.  Both Treasuries and MBS ended the day just barely inside positive territory and never experienced enough volatility to introduce any reprice risk for the mortgage world.  

The ho-hum conclusion to the week places the focus squarely on the upcoming 2 weeks which bring the  European Central Bank announcement and the Fed Announcement in that order.  It's also possible that bonds find a reason to break the range and build some momentum before those events, but we'll cross that bridge if we come to it.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
FNMA 3.0
101-29 : +0-01
10 YR
1.5600 : -0.0050
Pricing as of 9/6/19 5:36PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:00AM  :  Bonds Rally After Mixed Jobs Report

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Nathan Miller  :  "great newsletter MG"
Michael Kirsch  :  "so does this meager bounce indicate a lower gap opening on monday, or we found support?"

Economic Calendar
Time Event Period Actual Forecast Prior
Friday, Sep 06
8:30 Non-farm payrolls (k)* Aug +130 158 164
8:30 Unemployment rate mm (%)* Aug 3.7 3.7 3.7