Just a quick to note to say I'm sorry for not getting any posts up the past couple of days. It's been a crazy week for me and I've not had the opportunity to sit down an write anything coherent until this morning. I'm not planning on making this a habit, so your patience through this brief hiatus is very much appreciated. To that end, I'm planning on posting short commentaries throughout the trading day to ensure that I get at least a portion of my thoughts out into the ether. I still plan on writing the longer pieces as time allows, but these just may not be an everyday occurrence. As always, any comments you may have regarding this new format, content, or any other issues are greatly appreciated.
While I don't have enough time for more detailed comment, this morning's BLS jobs number is probably worth mentioning. The headline number of -95,000 was certainly not positive, though the addition of 64,000 private sector jobs was a bit of a bright spot. Taken together, the economic picture remains mired in a slow/stagnant growth environment that is showing few signs of alleviating any time soon. Pre-market equity futures appear to have viewed the report as somewhat of a non-starter as prices are largely flat. The Treasury market is mirroring this sentiment as well with yields trading either side of unchanged across the curve. This sets up for a quiet trading day. But as this week's price action has shown, volatility simply may be back in the marketplace. Looking at the historical price data, prices have tended to move lower on October 8th. With a slightly bearish jobs report now in the books, I would be inclined to believe that we finish the session lower.
Until next time.....
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