Mortgage Rates Hit Another 2025 Low Ahead of a Potentially Volatile Friday

Bonds Positioning For Weaker NFP? One of the best things to understand about the jobs report is that the payroll count can go BIG in either direction, regardless of what the other data or labor market trends have been suggesting. Today's data suggested a predictable level of labor market weakness. This isn't something that would guarantee a bond rally, but that's nonetheless what happened.  Rather than think of this as a "lead-off" or bonds getting in position for a weaker NFP, it's more accurate to treat such moves as a simple circling of the wagons as traders exit previously held positions to get neutral ahead of a high risk event.  The movem