Avg trade guess is about -60K w/5% unemployment rate. As a firm believer in the fact that the news follows the price action, I'm guessing the number prints positive and the unemployment rate retains its 4 handle. 2 year Treasuries got seriously hammered this week despite Bernanke's gloomy comments on Wednesday and a brutal unemployment claims number on Thursday morning. With absolutely no signs in the data that the economy has bottomed, the market essentially priced out any more Fed Funds rate cuts beyond another 25 bp at the next meeting. My personal opinion is that we're in the early innings of a a slowdown/recession. My trade - flat going into tomorrow. If the number prints positive, 2 years will get destoyed again ... at that point I'll be a large buyer. If the number prints negative, the 2 years will rally and I'll have missed the trade for now.