Jobs Huge Miss: Sept Payrolls Plunge To 29K, Below All Estimates As July Revised Negative... But Employment Soars

Jobs Huge Miss: Sept Payrolls Plunge To 29K, Below All Estimates As July Revised Negative... But Employment Soars In our jobs preview post, we told readers to "beware a bond squeeze as august seasonals reverse" and boy were we right: yields are tumbling from 5.22% to 5.16%, a new weekly low, as all those record TSY shorts get bigly squeezed following what was a big miss in the September jobs print which tumbled from a downward revised August (as we said it would be) 133K vs 162K originally to just 29K. It wasn't just August that was revised down by 29,000, from +162,000 to +133,000: July was also revised down by 31,000, from +21,000 to  -10,000.  This means that the original negative print of -23K, and which was revised...

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