The BLS reported that the US economy shed 539,000 jobs in April, the smallest number of jobs losses since October 2008 and better than the market expectations for 590,000 job losses. The unemployment rate rose from 8.5% to 8.9% and the hourly work week held constant (as usual) at 33.2 hours. The number of unemployed persons in the US is now 13.7 million.
After the release the oversold 10yr note yield fell from 3.36% to 3.28%.
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