Let me just start by saying I don’t think any single Jobs Report matters that much. That said, the market reactions are notable from time to time.
This time around, the 10 year US Treasury Yield is sitting at support as the jobs report hits.
From a technical perspective, this is sitting at a support in an overall bullish technical background until it’s not. If this is to break and close below that key 23 level (AKA 2.3%) then we can talk about a change in character that would be bullish for treasuries and bearish for stocks. However, as we stand, this is still a bullish chart for rates.
Trade ’em well