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Countdown To Liftoff Stable Ahead Of NFP

Ahead of the BLS's release of the Employment Situation Report at 8:30 AM tomorrow morning (featuring the critical Nonfarm Payrolls reading), Bespoke's Countdown To Liftoff measure of the months remaining until a Fed hike is showing a very stable reading. With a large selloff in bonds taking place over the last week (ten year yields have moved higher in yield by 18 bps in four sessions, while long bonds have seen yields rise 21 bps in the same period), the Fed Funds futures market is roughly unchanged, still predicting a hike sometime in November. For practical purposes, that means December, as there is no Fed meeting in November.

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