On the back of yesterday’s fairly high ULC figure, today’s low unemployment figure has the Treasury market running for cover. The 10-year is down a full point and the 30-year is down 1 and a half.
I can see why this is causing consternation for the bond bulls. With inflation figures still high and unemployment falling, what's the argument for Fed cuts again?
Friday, November 03, 2006
Bam!
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