MBS RECAP: NFP Threads The Needle, Leaving Bonds Unchanged


Posted To: MBS Commentary

Today's NFP report certainly could have been damaging for bond markets if it contained a significant revision to last month's low 98k headline. It didn't. In fact, last month was revised even lower to 79k! It's a good thing too, because this month's headline NFP came in slightly hotter, at 211k vs 185k. The negative revision helped offset the positive headline and bonds escaped the day with only minimal volatility, ultimately hitting 5pm almost perfectly unchanged. The end. No seriously… that's about as complicated as today ever got. So Happy Cinco de Mayo! If you want more analysis, MBS Live subscribers can watch the attached video, which offers a pretty swell recap of the day and week, as well as a quick look ahead at the weekend's French election and broader…(read more)

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