Thursday, July 06, 2006

Market Dead... Er, I mean Flat

Treasury market opening flat. Everyone seems to be waiting for tomorrow's number. I'm bullish on tomorrow only because the tone is so one-sided here that a downside miss on NFP should move the market more than an upside miss. To use a poker term, I think you are getting good pot odds to be long here, even if the odds of a miss in either direction are 50/50.

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