from Market Watch
Federal Reserve officials have been very clear that they want to see a sizable decline in the U.S. unemployment rate before they will even consider easing up on their ultra-accommodative monetary policy.
And Friday’s jobs data showed an unexpected drop in the unemployment rate to 7.8% in September from 8.1%.
So what’s that do to the Fed’s open-ended buying program, which as it stands is mostly in mortgage-backed securities? It shortens the length of time markets perceive that the Fed will be buying bonds.
Ten-year treasurys fell sending yields up 4 basis points to 1.72% Friday after the unemployment report.
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