Good Morning,
Stocks are rallying higher this morning. Although this would normally add selling pressure to Bonds, Bonds are starting the day near unchanged levels and have actaully fared better as of the latest news today.
Yesterday, the Fed issued its Policy Statement without any big changes or surprises. In today's news, Initial Jobless Claims was reported lower than expected and at the lowest reading since the first week of 2009. Continuing Claims also dropped, but this is likely due to benefits expiring rather than people finding jobs.
Despite today's better-than-expected numbers, tomorrow's official Jobs Report will probably indicate continued weakness in the labor market, with the unemployment rate likely nearing 10%. Bonds are currently holding their own; therefore, I recommend floating as we await tomorrow's report. Have a great day! If there is ever anything that I can do for you, please let me know.
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