Treasuries Lower

Treasuries were lower on Friday after December nonfarm payroll jobs were lower than expected

On Friday, it was all about December nonfarm payroll jobs gaining 157,000, just shy of consensus and within the six-month average. Earlier in the day, 10-year treasuries had moved higher, after the release of jobs data. There was some relief that the number was not a bigger disappointment, given soft employement signs in December Chicago PMI and ISM, and a jump in jobless claims. Plus, November jobs growth was revised higher, and unemployment went unchanged at 5.4%. But by the end of the day, the market shed the gains on the weaker-than-expected December jobs data.

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