Good Thursday AM from your Hometown Lender,

Lots of news and data this AM.

The Bank of Japan left rates unchanged. Challenger job cuts much lower than last month but double what they were last year at this time. Unemployment claims jumped, continuing claims jumped… Across the board, the data was weak.

Bonds though are not having a great day.

I think the recent improvement (the 10yr has moved from 4.51 to 4.21 today) has run out of steam for the moment until markets get to digest tomorrow’s jobs report and predict what the Fed’s course will be at their meeting next week. From there we will see which direction rates head.

Today’s move higher in rates is not much to be concerned about as it is not accelerating, is keeping us at the lines of support, and looks like a consolidation ahead of tomorrow’s data.

I do not recommend floating into any big news event and tomorrow certainly qualifies.

Stay safe and make today great!