Market Roundup: Off Lows Post Data, Focus Turns to Fed Speakers

Tsy futures bounce higher, scale back -- holding inside overnight range after Apr NFP jobs gained more than estimated +428k vs. +380k est, avg hourly earning little weaker than exp at 0.3% vs. 0.4% est. Total down-revisions to Feb-Mar -39k.

Tsy curves gapped flatter on the initial move moving back to top of range, 2s10s +3.044 at 35.333 vs. 35.993 high.

• Equities trading higher, holding gains at the moment (ESM2 +6.0 at 4149.25).
• As expected, Focus remains on the Fed exit from blackout:
  • NY Fed Williams open remarks on environmental economics, 0915ET
  • MN Fed Kashkari moderated discussion, University of MN, 1100ET
  • Atlanta Fed Bostic commencement address, Georgia Tech, 1500ET
  • StL Fed Bullard, Fed Gov Waller mon-pol panel, Hoover Inst, 1915ET
  • SF Fed Daly commencement speech Utah Valley Univ, 2000ET
• US 10Y technicals: Remain bearish after trading fresh cycle low Thu when key support at 118-08 (Apr 22 low) cleared, confirming a resumption of the primary downtrend and an extension of lower lows and lower highs.
• Moving average studies remain in a bear mode, reinforcing current conditions. Sights are on 117-22+ next, the low from Nov 8 2018. In the event of a reversal, key short-term resistance is unchanged at 120-18+, Apr 27 high.
• Cross-assets: WTI Crude Oil (front-month) firmer by +$1.10 at $109.36; Gold gains +10.77 at $1887.95.