Summarise in 200 characters:
Duration saw choppy price action throughout the course of Friday, after a stronger-than-expected September jobs report pushed treasuries sharply cheaper, but losses were walked back over the course of the NY session. Yields closed higher by 5-6bps across the curve; notably 10y yields ended the session around 4.78% after peaking through 4.885% which was seen shortly after a 336k September jobs report (170k consensus) and an upward headline revision to the prior month. Immediately after the print, there was a sharp bear steepening move which saw 2s10s spreads through -25bps before walking back to -30bps (1bps steeper) to close the day. 5s30s saw similar price action, but ended the day unch at 20bps. The post-jobs report selloff was faded as investors took into account composition of the headline beat, reeling back outright basis yields gains from over 10bps.

In China IG, fairly firm session although activity was on the lighter side as low beta SOEs unchanged while higher beta names looking 2bps tighter - seeing buyers of 10y paper from RM accounts. Some holders of a CNOOC USD bond due 3 Oct were informed by their clearing houses that the company plans to repay the notes on 10 Oct.

In China HY, China's return from Golden week, so far various high frequency data is flagging on the strong side and seeing that impact in China HY with several sectors firmer on day as macro stabilises. Macau still mostly trading alongside rates and is generally -0.125-0.375pt as drift wider through the day in Asia, industrials and property seeing better buying in select lines and trading 0.5-1pt higher, LNGFOR seeing short covering and traded 2-4pts higher. NWDEVL was active among PB/HFs and RMs returning to the action with better buying on bullets among RMs and better buying in perps from HFs while PB flows remain two-way, bonds up 1-2pts today. Tianyancha database shows Dalian Wanda Commercial Mgmt’s stake in a Shanghai mall has been transferred to a company whose largest shareholder is Dajia Life.

In Sovereigns, INDON/PHIL traded 3-4bps tighter in terms of spreads. Active session in the frontiers with some good two way across MONGOL -25/50c and scrappy two-way in SRILAN +25c.
In non-China IG with Malay names weaker on day. RM/ETF continues to sell PETMK with curves about 1bp wider while KNBZMK saw some street hits in the new issues, 2-3bps wider although the 33s were lifted EOD. India IG on the other hand firmer with RM/PB continue to buy 10yr paper but still about 1bp wider on day. Somewhat more stable in PTTGC and BBLTB new issues today with BBLTB new issues seeing some overnight buying while there was small RM buying in PTTGC belly.

AT1s closed the day about 0.40pts lower, off the lows of mid-afternoon as treasuries bounced into the US holiday weekend. The mood immediately post-NFP was dark, some selling from asset managers.  That selling has subsided however, and dealer short-covering was the theme of the final 30mins or so.  Greek names were the main underperformers, closing 0.75pts lower in thin markets while Nordic and Aussie/Canadian names were the safe havens. Volumes were decent in the afternoon especially, with morning flows mostly concentrated in short call bonds. Active names include SOCGEN, BNP, ACAFP, BACR, HSBC, UBS, BNS, CABKSM and INTNED.