Treasury Closing Summary:
Treasury Closing Summary: Payrolls Friday came and went with the usual flurry of asset rotation after the tepid headline data was propped up by a supporting cast of underlying component strength. The big story was the overnight 6% "flash crash" in Sterling after the battle lines were drawn on a hard exit for the UK with Europe. Yields were whipsawed, led by long-end underperformance, but ended below highs. Equities lost traction, though ironically the UK FTSE rallied given the sharp devaluation of the pound. Fedspeak from hawks Mester and Fischer kept a fuse lit under a tightening before year-end, with Mester embracing the jobs report and not ruling out a November move.