Market Analysis

Yesterday's stock market dive drove funds into bonds, bringing the 10 Yr US Treasury yield to 2.47%.  The yield is now moving back over 2.50% as a stronger than expected July Non Farm Payroll report is causing early morning selling in bonds. 

July Non Farm Payrolls increased by 117,000 vs expectations for a 84,000 figure.  Private Sector Payrolls increased by 154,000 vs expectations for a 100,000 figure.  Public Sector Payrolls dropped by 37,000 which was larger than the 16,000 drop expected.  June's Non Farm Payrolls were revised upward from an 18,000 gain to a 46,000 gain.  The nation's unemployment rate dropped to 9.1% vs expectations for it to remain steady at 9.2%.