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US TSYS
  • Tsy futures gap lower after broadly higher than expected Change in Nonfarm Payrolls of +353k vs 185k est (prior up-revised to 333k from 216k), Private Payrolls surge to +317k vs. 170k est. Unemployment Rate 3.7% vs. 3.8% est while Labor Force Participation Rate near steady at 62.5% vs. 62.6% est.
  • Mar'24 10Y futures currently trading -24.5 at 112-04 vs. 112-00 low, above initial technical support of 111-24+/110-26 (20-day EMA / Low Jan 19 and bear trigger).
  • Curves bear flattening: 2s10s -6.400 at -39.003, 10Y yield still below 4% at 3.9629% (+.0826).

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