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08:50
10/07/16
10/07
08:50
10/07/16
08:50

Treasury Action: yields were whipsawed

Treasury Action: yields were whipsawed as usual by the headline payrolls miss for September, along side modest net revisions in August and July, as well as a back-up in the jobless rate to 5.0% as labor force participation picked up. Yet this may do little to inform the Fed outlook, which remains murky near-term. The 2-year yield took a stab lower to 0.835% before rebounding to 0.875%; the 5-year yield jammed below 1.265% then shot over 1.30%; the 10-year dove to 1.73% then banked to 1.77%; and the 30-year took aim at 2.45% before ramping over 2.49%. The curve has steepened as the short-end outperforms the long.

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