us jobs data , page-16

From IGM News Feed

After the usual (in fact more than normal) waves of post-NFP action and then a welcome (much needed) period of relative calm, the Wall St open prompted another frenzied bout of trade and switching in [EU ASSET MARKETS]. Although US stocks were widely expected to suffer at the hands of the dire NFP data, as the losses materialised and began to stack up the Dax, FTSE and Cac-40 descended to new depths at 5493, 5258 and 3140 resp (-237, -160 and -125 pts) with the EMU peripheral bourses plunging even further below par. Conversely, safe-haven debt benefited from the inverse-correlation and a faster flight-to-quality that elevated Sep Bunds and Dec Gilts to fresh intraday/contact peaks of 136.90/128.20, +160 and +105 ticks resp. Note, while the 2% psychological and all time low yield in 10 year Bunds is providing bulls with some resistance/solace for bears, the 7 year is now sub-1.50% ECB main refi levels.