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Rates Pared Gains on Strong Oct Jobs Report, Up-Revisions, Now Reverse

US TSYS

Futures bouncing back now after Tsy futures pared gains, traded modestly weaker after Oct NFP saw +531k job gains vs. +450k est, Sep up-revision to +312k and unemployment rate drop to 4.6% vs. 4.7% est.
Tsys drawing some sporadic buying/short covering after initial surge in selling across the curve, yld curves bear flattening:

  • 3M10Y +0.1, 147.646 (L: 145.153 / H: 149.574)
  • 2Y10Y -1.59, 108.187 (L: 107.979 / H: 111.44)
  • 2Y30Y -3.477, 149.994 (L: 149.499 / H: 154.83)
  • 5Y30Y -3.226, 81.783 (L: 80.737 / H: 85.544)

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