Market Commentary [10.07.2022]

Bond pricing and treasury yields were relatively flat ahead of the nonfarm payrolls release. The U.S. 10 Year Treasury yield was at 3.837%. The market was expecting a lower 275,000 job creations for September along with a 3.7% unemployment rate and increase in hourly earnings of 0.3%. Job growth slowed in September with 263,000 job adds which was even lower than expected. The unemployment rate came in at 3.5% which was better than expected. The 10-year Treasury yield popped to 3.88% post release with bond pricing following suit and moving further into the red. A variety of Fed speaking engagements round out the day with Consumer credit being released at 3pm ET. Mortgage rates are under upward pressure this morning, with the week moving rates higher overall.

​ This week's major U.S. Economic Reports and Fed Speaker

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