| Jun 3, 2011 4:55PM On Wednesday we witnessed the second stage of a potentially significant shift lower in home loan borrowing costs. "The Wall" was wavering, teetering in its most precarious position this year, but we needed more proof that it was ready to be toppled. That confirmation could only be granted by today's high-risk event: The Employment Situation Report. We needed to reinforce the rally with a weak jobs report. And that's exactly what we got..... Job growth in May was much weaker than expected. The April... Jun 3, 2011 9:58AM You can exhale. Jobs data was even weaker than recently downgraded forecasts. Bonds are rallying, recovering almost all of yesterday's sell-off already.... (Reuters) -Employment growth brakes sharply in May : Employment rose far less than expected in May to record its weakest reading since September, while the jobless rate rose to 9.1 percent as high energy prices and the effects of Japan's earthquake bogged down the economy. Nonfarm payrolls increased 54,000 last month, the Labor Department said...
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