Tomorrow is Supposed to be Important for Bonds

Yields on the 10 year note reached over 4.90% today ahead of an important data release tomorrow. Tomorrow the nonfarm employment report for March will be released and the consenus is that it will show an additional 187,000 jobs were added in March. If it is stronger than expected, then the market can be expected to take yields on treasury notes higher, and with it, mortgage rates.

Here is a story describing today’s treasury action.