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At Least It Didn't Get Much Worse After The Initial Rout
At Least It Didn't Get Much Worse After The Initial Rout
If you had to find something reassuring to say about the bond market today, it would be that there wasn't much selling after 9am ET. Unfortunately, there was a whole lot of selling in the prior 30 minutes. Try as they might, analysts couldn't find any obvious holes in the strong picture painted by the jobs report. Stocks got completely destroyed as well--evidence of the jump in Fed rate hike expectations adding to a tech correction that was already underway. An Iran war peace deal remains the biggest market moving prospect on the horizon, but traders will be a bit more interested in labor market data going forward.
Modest Gains Maintained After Intraday Slippage
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Jun 05 | |||||
| 8:30AM | May Participation Rate | May | 61.8% | 61.8% | |
| 8:30AM | May Unemployment rate mm (%) | May | 4.3% | 4.3% | 4.3% |
| 8:30AM | May Non Farm Payrolls (k) | May | 172K | 85K | 115K |
| 8:30AM | May Average earnings mm (%) | May | 0.3% | 0.3% | 0.2% |
| 3:00PM | Apr Consumer credit (bl) | Apr | $20.70B | $18B | $24.86B |
| Monday, Jun 08 | |||||
| 11:00AM | May Consumer Inflation Expectations | May | 3.6% | ||
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