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MBS Day Ahead: Early Close and Another (Potentially) Record-Breaking Jobs Report

Friday, July 10, 2020   /   by Erik Bjorklund

MBS Day Ahead: Early Close and Another (Potentially) Record-Breaking Jobs Report

Last month's jobs report shattered records, both for the outright level of job creation (2.509m) and for the gap between job growth and forecasts.  In fact, we won't likely see a gap that big, ever.

We may, however, see a bigger month of job creation, and if economic forecasters are right, we'll see it this morning.  The consensus calls for a payroll increase of 3.0 million.  

Even if that happens, it remains to be seen how willing the market is to react to such things.  Last month's labor market numbers arrived at time when the market was more susceptible to...

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