- Quarterly Census of Employment and Wages (QECW) for March 2024
- Revised down 818k
Expectations for this revision ranged from 600k to 1m. The bond market is initially losing some ground on the news, but this may play out in more of a back and forth fashion.
For now though, lenders who were already out with rates could be considering a negative reprice with MBS down 5 ticks (.16) from the highs.
10yr yields are now up 1.4bps a 3.82 after hitting lows of 3.78 in the initial confusion.