While there's always a chance of another lead change on NFP days, let's hope this one sticks. Bonds are now squarely back into positive territory with 10yr yields down more than 3bps at 3.697. MBS are up 6 ticks (.16), very close to their highest liquid levels of the day.
There are no news headlines are econ reports driving the move, but the big swoon in stocks could be contributing.
