• Nonfarm Payrolls
    • 139k vs 130k f'cast, 147k prev
  • Unemployment Rate
    • 4.2 vs 4.2 f'cast/prev

As we discussed yesterday, Wednesday's data led the market to price in a slightly weaker result than forecasts indicated.  That's why we're seeing a bit of selling in response to the as-expected result (previous month revisions more than offset the 9k beat in NFP, actually).

10yr yields are up 3.7bps at 4.432 and MBS are down 2 ticks (.06).