The monthly employment report was disappointing as it came in dramatically below estimates of the smartest guys in the nation.
71,000 jobs created last month. The number was met with incredulity on the tube...
and in the print media
The general reaction was one of disbelief and a search for answers. Most agree the number will be revised up in the coming months.
The debate over the effects of unemployment insurance on job seekers and the effects of retiring workers dropping out were the main topics.
Bottom line. The economy may not be as strong as we would like.
What does this mean? Low rates for as long as the eye can see.....
And a weak economy means a weak dollar. And the trading action in the currency ETF's this morning leads me to conclude this weakness may persist, and the dollar may commence a slide.
Dry bulk shippers weak on the recent weakness in the Baltic Dry index. Dollar weakness may correct that..??
EEM, emerging markets strong this morning.
And we may see some shorts covering in the gold and silver markets.