MBS RECAP: Volatile Bond Markets Following NFP's "Big Miss"

Posted To: MBS Commentary

Bond markets experienced a quintessentially volatile reaction to a classic example of a "big miss" in the NFP data . As we've discussed several times already today, there was nothing positive about the data. In fact, my initial assessment this morning was that "The normal silver linings that econo-bulls normally rely upon to make their counterarguments on TV are all completely absent." The reasons for this were simple. The normal "yeah buts" are as follows. The headline NFP was weak... yeah but the unemployment rate dropped! (it didn't drop) The unemployment rate didn't drop... yeah but labor force participation increased! (it actually decreased) Unemployment didn't drop, the participation rate increased, payrolls shrank... yeah but at least people are working more hours and making more money...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Mortgage News Daily http://ift.tt/1hgACSW