Street Color: BMO Capital's Pre-Nonfarm Payrolls Survey Shows Willingness to Buy Post-Payrolls Dip in Treasuries at Highest Since February 2020
07:34 AM EST, 02/05/2021 (MT Newswires) -- BMO Capital said its pre-NFP survey offers nuance on sentiment heading into Friday's jobs numbers.
The willingness to buy a post-payrolls dip is the highest since February 2020 at 48% versus the 40% average and the do-nothing camp was just 46% compared to the 54% norm.
If the market trades higher after the data is in hand, just 39% would sell; matching the last six months' average.
The company said 68% of survey respondents expected the next 15 basis points in 10-year yields will be toward higher rates. That is well above the 56% average and matches the largest share since September 2017.
(Street Color news is derived from real time discussions with market professionals globally subscribed to the Street Color Premium Chat service on Bloomberg IB Chat and the ICE IM. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)