Nonfarm Payrolls posted the largest print since January 2012, up 321K for November vs. 209K prior (consensus 225K) and the Unemployment rate was unchanged at 5.8% sparking a sizeable 20-tick tumble in 10-Year notes. The Labor Force Participation Rate held at 62.8% and 2.1 Million persons were marginally attached. The Goods and Services deficit was $43.4 Billion in October, down -$0.2 Billion from $43.6 Billion in September (revised). Treasuries are attempting to recover following the much hotter than expected Payrolls print and the curve has bear flattened with 2s10s down -3.6 bps.
GNMA Issuer Fannie Mae and Freddie Mac Direct Lender Licensed throughout the U.S. and Puerto Rico Privately Held Mortgage Bank for Over 32 Years Excellent Underwriting / Funding Turn Times
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