Record-Breaking Job Gains, But Bonds Ultimately Improve

Last month's jobs report shattered records, both for the outright level of job creation and for the gap between job growth and forecasts.  While today's job count was even bigger (+4.8 million versus 2.699m last month), it wasn't as far above the forecast consensus (1.8m gap versus 10.5m last month).  But even that doesn't fully explain why bonds were able to get back to stronger levels ...