Good News is Bad News

Good News is Bad News

• Initial jobless claims were better than expected - good news,
  right? We want people to have jobs. Don't be fooled by the increase in
  unemployment rate; that's mostly caused by a gigantic flood of
  high-school graduates into the job market, and not by people losing
  their jobs, as this morning's number proves.
• Unfortunately for bonds, when employment increases, that raises
  pressure on the Fed to raise rates, and that is bad. Bad for us here,
  that is. So that's bad, right?
• So far, not very bad. The 10-year note is losing back everything
  it got yesterday, but mortgage lenders pay more attention to the 5.5%
  and 6% FNMA bond, and those aren't off quite so far.
• The big number is the Philly Fed coming out in about 20 minutes,
  and we'll be mostly flat until then. If it moves us significantly in
  one direction or another, we'll alert you on it.
  
  

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And this weekend, Saturday 5pm to 7pm, is the Fourth Annual Chris Jones
Group BBQ. You're invited. It's at Olivia Votaw's at 565 East 300
North in Lehi, right next to the high school (north side). Please
come, eat our food, and enjoy. Really. Our treat.



Cj

www.thechrisjonesgroup.com