Thursday, September 29, 2011

Unemployment

Unemployment initial claims shot way down by 37k and last weeks number got revised up 5k.  So the standard's been 9k move 3k revision so 37k move next week we'll see it revised up 11k?  Unemployment better, GDP estimate better, but what matters is Greek and Italian bond yields are actually failing on Germany's vote to fund a bailout package.  So I'd be looking for an upward move for the next 2 days.  But Greek one year bonds are still pricing in a %50+ haircut.

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