Written Commentary
THIS WEEK IN FUTURES
Clearly the treasury bond market deserve to forge another new low in the face of the much stronger than expected US nonfarm payroll gain of 379,000! Even more surprising is the fact that leisure and entertainment jobs jumped by 286,000 in a sign that the opening-up sector of the US economy is starting to come alive. On the other hand, adjusted into the lows last Friday, we suspect that the treasury bond market was holding a record spec and fund short and therefore the technicals are overdone.
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