Markets barely reacted to the 250,000 rise in US payrolls in October announced at 8:30 am on Monday.

Bond yields were nearly unchanged five minutes after the report. The previous month’s estimate was cut from 134,000 to 118,000.

The pattern of revision and bounce is consistent with recovery from the hurricane that battered the southeast of the United States in September.

Average hourly earnings rose by 0.2%, in line with the consensus forecast.