Bond market preps for jobs data

Labor Market Analysis - The bond market anticipates a non-farm payroll number around 100,000; exceeding this figure might counter the previous month's negative revision of -258,000 [1] - A non-farm payroll number below 50,000 could increase the likelihood of a 50 basis point rate cut by the Federal Reserve [3] - The speaker notes that the non-farm payroll data may not be entirely accurate, but it is the primary information available for analysis [2][5] Bond Market and Interest Rate Expectations - Two-year Treasury yields were at 396 basis points and 10-year yields were at 438 basis points before the previous month's non-farm payroll report [4] - Since the last report, the two-year and ten-year yields have moved mostly sideways to slightly lower [4] - The market will closely watch the upcoming non-farm payroll report, despite potential inaccuracies, as it is the key data point available [5]