Non Farm Payrolls down 159k

U/E stands at 6.1%

broad losses throughout the economy with no specific sector doing heavy lifting.

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When many of the economists polled to develop consensus estimates are coming out with "kooky" numbers more than 50k worse than the mean, some 100k worse, and then when the NFP actually hits those estimates. That's bad, mmmkay? Bears in control. Da Bears...

The MBS market is having a counterintuitive reaction. MBS have sold off abruptly since the news.

Those with overnight price protection, or those who already have rates should lock now if you don't want to "wait and see" what the House vote does to us.

All others, just grab the popcorn. Should be a good one today!

Stay Tuned...