Isaac Brook, an American interest rate strategist at the Royal Bank of Canada Capital Markets, said, “In this report, I don't think there are many new signals. It only shows that the non-agricultural data itself fluctuates greatly, and the overall labor market is still stable, and the market has long been known.” Investors are generally tired of fluctuations and drastic revisions in non-farm payrolls data. This also explains why this morning's data completely exceeded expectations, yet the US bond market's response was relatively lackluster. The US two-year Treasury yield was only a few basis points higher than before the data was released, to 4.53%.

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