Archive for January, 2008
Thursday, January 3rd, 2008
The ADP report and the weekly claims data have each seen the light of day and I think the result is that Goldilocks has a bit of a chill but she is not yet on life support.
The ADP release notes that the private sector created 40k jobs last month. That equates ...
Posted in Uncategorized | Comments Off on ADP and Initial Claims:
Thursday, January 3rd, 2008
Yields on benchmark Treasury securities continue to dive in overnight trading and the 2year note has reached a paltry 2.80 percent. The spread between the 2year and the 10year has reached a cycle high at nearly 108basis points.
The early focus today will be the ADP guesstimate of employment change and ...
Posted in Uncategorized | Comments Off on Random Musings on a Chilly Morning
Wednesday, January 2nd, 2008
Prices of Treasury coupon securities surged today as weaker than expected economic data motivated purchases on the first trading day of the New Year. The proximate cause of the buying was the report that the monthly ISM report had slipped to a recession like 47.7 . The component parts were ...
Posted in Uncategorized | Comments Off on January 02 2008 daily recap
Wednesday, January 2nd, 2008
On the back of the weak economic data and the subsequent crater in the stock market , benchmark Treasury securities have rallied between 9basis points and 17basis points. As one would expect the greatest decline in yields has been in the front end with the yield on the 2year declining ...
Posted in Uncategorized | Comments Off on Mid-day update
Wednesday, January 2nd, 2008
The Institute for Supply Management just released its index for December and it aint pretty. The headline number cratered to 47.7 and weakness was pervasive across most of the component pieces of the index. New orders,backlogs , and inventories,employment all slipped below the Mendoza line of 50. There was also weakness ...
Posted in Uncategorized | Comments Off on ISM Index
Wednesday, January 2nd, 2008
I broke the ice for this endeavor several days with an initial post which was intended to make sure that I could function effectively in this little corner of cyberspace. It seems that I was successful and now I will write for real and pray that the ice doesnt crack ...
Posted in Uncategorized | Comments Off on Jumping into the Cold Water