Big beat on jobs with gain of 204K
- October Nonfarm Payrolls: +204K vs. consensus +120K, 163K previous (revised from 148K).
- Unemployment rate 7.3% vs. 7.3% consensus, 7.2% previous.
Bonds plummet following strong jobs report
Stock futures slip and bond yields spike higher following
the big jobs number beat. In addition to the 204K gain in October, August and
September revisions added another 60K jobs.
On the downside, the labor force participation rate whooshed
down to 62.8% from 63.2%.
The average workweek is unchanged at 34.4 hours and average
hourly earnings edged up $0.02 to $24.10.
SPY -0.2%, TLT -1.3%
premarket, and the 10-year yield spikes 12 bps to 2.72%.
S&P ETFs: SPY, SH,
SSO, SDS, IVV, SPXU, UPRO,
VOO, RSP, RWL, EPS, BXUB, TRND, SFLA, BXUC,
BXDB
Treasury ETFs: TBT, TLT, TMV, TBF, EDV,
TTT, TMF, ZROZ, TLH, SBND, DLBS, VGLT, UBT, TLO, LBND, FSA, TYBS, TENZ, DLBL
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