http://quote.bloomberg.com/apps/news?pid=10000006&sid=a15loRAYD15I&refer=home `Complete Despair' Banc One Capital Markets Inc.'s trading desk in Chicago was in ``complete despair'' after the jobs report, said Ray Remy, head of the bank's Treasury and agency debt trading. ``We were upset the market was going to much lower yields. Four guys turned around and swore, because it's difficult to get people involved at these rates.'' http://quote.bloomberg.com/apps/news?pid=10000006&sid=asdGaX9f4LF4&refer=home ``The first reaction out of most people was to scratch their eyes in disbelief,'' said Jeremy Fand, senior proprietary currency trader at WestLB AG in New York. ``Every signal I have tells me the dollar is to be sold.'' `In Shock' ``Traders were in shock. It was a number that very few people envisioned,'' said Michael McGuinness, senior director of foreign exchange in New York at American Express Bank, a unit of the world's biggest corporate travel agency. ``There's going to be very little discussion about the Fed raising rates any time soon, so the dollar will probably be vulnerable against the European currencies,'' reaching as weak as $1.25 even today
I have to agree. 30yr futures moved almost a full 32 ticks at least 10 seconds before 7:30 CST, shortly followed by the 10yr and then the Bund. Very fishy.