Friday, February 4, 2011

Morning Update

Quite the miss on NFP and yet the unemployment rate fell yet again to 9.0%.  If you stop looking for work for four weeks, you are considered employed even though you have no job.  The spin is in high gear on that number though.

Check out the 10-year Treasury as it is testing the lows in price and highs in yield.

The USD caught a bounce but let's see if it is a trend reversal or not.  The most recent COT report did show non reporting (retail) traders relatively high net short so there could be a decent squeeze beginning to add to a bounce.


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