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Post-NFP React

US TSY FUTURES
  • Tsy futures gap lower following higher than expected Dec jobs gain of 216k vs. 175k est, prior down-revised to 173k from 199k. 10Y yield climbs 4.0933% high (+.0945) before slipping back to 4.0666 (+.0679).
  • Mar'24 10Y futures fall to 111-06.5 (-25) low, bounce back to 111-12.5 at the moment. Curves mixed at the moment, 3M10Y +7.599 at -132.664, 2Y10Y -.652 at -39.439.
  • Change in Private Payrolls (164k vs. 130k est, +136k prior down-revised from 150k). Unemployment Rate (3.7% vs. 3.8% est), Labor Force Participation Rate slips to 62.5% vs. 62.8% est/prior.
  • Next up: Factory Orders, Durables/Capital Goods and ISM data follows up at 1000ET.
  • Scheduled Fed speak: Richmond Fed Barkin, banker assn meeting at 1330ET, text, Q&A

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