US TSYS: Hassett on Declining Labor Force - Don't Panic
Feb-09 20:58
- Treasuries extended early session highs after jobs comment from U.S. NEC Director Hassett, gradually extending highs to finish modestly higher after the bell. Hassett noted that “there's a pretty big decline in the labor force because of illegals leaving the country. And so the breakeven job number is quite a bit lower than it was under Joe Biden."
- Hassett posited "you should expect slightly smaller job numbers that are consistent with high GDP growth right now, and that one shouldn't panic if you see a sequence of numbers that are lower than you're used to." explaining that "population growth is going down and productivity growth is skyrocketing.”
- Rate locks and fast$ selling for $20B Alphabet 7pt debt issuance helped keep rates contained on the day.
- Currently, TYH6 trades +2.5 at 112-06 vs. -07 high, an extension higher would undermine the bear theme and open 112.-22, the Jan 7 high. For bears, a reversal lower would refocus attention on 111-09, the Jan 20 low and bear trigger.
- The stabilisation for risk sentiment late last week had been a key factor into the recent dollar recovery stalling, and the DXY returning to the prior breakdown point around the 98.00 mark appears to have provided an attractive entry point for those looking to reengage shorts.
- Focus turns to weekly ADP NER pulse employment numbers, Import/Export Prices, several Fed speakers and a $58B Tsy 3Y note sale.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
MNI: MNI TEST 02, Please Ignore
Jan-09 23:36
Test Test TEST
MNI: MNI Test, Please Ignore
Jan-09 23:30
Test, ignore
US LABOR MARKET: MNI US Employment Insight: U/E Rate Improves But Payrolls Soft
Jan-09 21:16
- We have published and e-mailed to subscribers the MNI US Employment Insight.
- Please find the full report, including detailed MNI analysis of the payrolls release plus a variety of other key labor indicators, here: https://media.marketnews.com/US_Employment_Report_Jan2026_3a3292abe9.pdf
