Treasuries Set for a Super-Sized Jobs Reaction on Good Friday
- Cash trading to close early after nonfarm payrolls report
- Yields look 20% to 50% more volatile than normal sessions: JPM
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The release of key US jobs data on Good Friday risks making the Treasuries market reaction one-and-a-half times more volatile than it usually would be, according to JPMorgan Chase & Co.
Previous instances of employment data coming on the holiday showed yields were 20% to 50% more volatile than normal in the two hours following the release, strategists including Jay Barry wrote Thursday. That’s even as the absolute value of changes tended to be similar over the course of a full session, they said.