ROHR TrendView with MyTradingBuddy Video Excerpt
Thursday, July 2, 2015
The response to the US Employment report has been a classical ‘bad news (or at least mediocre news) is good news’ in the govvies, and reasonably positive reaction in the equities as well. Yet this may be due to only transitory factors on the way into the Greek Troika final offer referendum on Sunday. While the govvies are bid for now, any YES vote that is the most likely result of that Sunday referendum (see more on that below) will likely weigh on them once again after quite a bit more upbeat economic indications outside of the Greece Debt Dilemma returning to crisis proportions.
The equities circumspect view of weaker than expected US Employment leaves room for quite a bit more strength if the Greek YES camp prevails. The 223,000 jobs added was in line with the top of the week estimates, yet disappointed after Wednesday’s stronger ADP Employment numbers. And a 60,000 downward revision to previous two months’ Nonfarm Payrolls along with what is likely an even more important reversion to no Hourly Earnings gain after plus 0.30% last month is weighing on equities a bit this morning.
This content is restricted to site members. If you are an existing user, please log in. New users may register below for FREE.