NFP 分establishment survey和household survey。while establishment survey has a much more new hiring than est. Household survey shows UR at 4.0% vs 3.9%。有人会问为什么more job added但unemployment 反而beat呢？it has to do with 这两survey的difference以及增加的工作为government/health care jobs。Fed的降息target 大概为4.3%-4.5% UR。所以我个人认为这份report并没有当前premarket 反应那样差，more paycheck but one step closer to fed target(尽管我觉得不应该去设置这样一个target)。we will see how market close today。bond market的反应有一部分因为stronger AHE +0.4% vs +0.3%