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Unemployment Rate Dips
01/06/2012
Treasury prices were quiet overnight in anticipation of today’s employment report. Prices have since moved modestly lower as better than expected results have put pressure on treasuries. The results were encouraging as nonfarm payrolls increased 200k vs estimates of a 150k increase and the US unemployment rate unexpectedly dipped to 8.5% from last month’s 8.6% level. Both private and manufacturing payrolls posted better than expected increases, +212k and +23k,respectively, but government payrolls dipped by -12k. Currently, the 10 year yield is at 2.014% (2.007% Thursday).
