Nonfarm Payroll employment rose by 214K in October vs. 248K prior (consensus 235K), and the Unemployment rate edged down to 5.8% vs. 5.9% prior (consensus 5.9%). The number of long-term unemployed was little changed at 2.9 Million. Among the marginally attached, there were 770K discouraged workers in October, virtually unchanged YoY. Treasuriesrallied following the drop in payrolls vs. expectations and the curve has bull flattened with 2s10s down -0.1 bps.
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