Sadakichi Robbins
Sadakichi Robbins
bit consensus employment looking market number numbers previous shops softer
I would say the market has been a bit sanguine about Friday's employment report, the consensus being 125,000, with a number of big shops looking for softer numbers than consensus than in the previous two months.
drop fed labor market mess people phrase upbeat upset
It's got people jittery that the Fed may drop the phrase this time, ... We don't think they'll mess with it because it would upset the market too much, but they could well get more upbeat on the labor market.
biggest bond concern due equity expected expecting market markets sure
It's pretty much expected due to the extraordinary situation. Their biggest concern is making sure there's ample liquidity, especially as the equity markets open. The bond market had been expecting it.
biggest bond concern due equity expected expecting markets sure
It's pretty much expected due to the extraordinary situation, ... Their biggest concern is making sure there's ample liquidity, especially as the equity markets open. The bond market had been expecting it.
break curve europeans hard market threw tried
The market tried so hard to break 3.90 (percent), but the Europeans threw in a curve ball.
aggressive changed fed market mind pace policy rate seemed
The market seemed to have it in their mind that the Fed had already changed their mind, that there was a change in policy to a more aggressive pace (of rate tightening), but that did not occur.
market reason
The market has every reason to be nervous.
best easing percent raising target
We're probably raising the endpoint for the Fed's easing target from 1.5 percent to at best 1.75 percent,
debatable downward trend
The only thing that isn't debatable is that we have a downward trend in yield,
move people reading
People are reading a lot into this move that really isn't justified.
bid chunk guess modest oil percent range stuck took
We are still kind of stuck in this 4.67-4.77 percent range and I guess the reversal in oil is what kind of took a chunk out of equities and resumed a modest bid in bonds.
indirect jump maybe none scared surprise turned usual
The real surprise is that none of the usual indirect bidders turned up. Maybe they were scared away by the jump in direct bidding (Wednesday).
amount borrowing certainly extremely given nobody street ugly wants
It was an extremely ugly auction. And that's something nobody wants to see, not the Street and certainly not Treasury, given the amount of borrowing they have to do.
break jobs looking number range
The speculative sellers are looking for the big jobs number that will break us out the range (for yields).