Bonds Circle The Wagons Ahead of High Risk NFP Bonds are often seen as a safe haven for investors, especially during times of uncertainty in the financial markets. As we approach a high-risk Non-Farm Payroll (NFP) report, which is a key economic indicator in the United States, bond markets tend to react in specific ways. This article will explore how bonds "circle the wagons" in anticipation of such reports, the implications for investors, and the broader economic context. ### Understanding Non-Farm Payroll (NFP) The Non-Farm Payroll report is released monthly by the U.S. Bureau of Labor Statistics and provides insights into the employment situation in the country. It includes data on the number of jobs added or lost in the economy, excluding farm workers, government employees, and a few other job categories. The NFP is crucial because it can influence monetary policy decisions made by the Federal Reserve, impacting interest rates and overall economic growth. ### The Importa...