Hope you had a wonderful trip Cy. I had a good time, just had a BBQ and relaxed although I had a toothache and couldn’t enjoy the food as much as I wanted I agree though it would be better if Friday is a half day instead, sometimes the scheduling should be a little bit more flexible
Some people probably take this day off on purpose I know a lot of people taking Wednesday and Friday off at work to have a short trip
Market is well off the lows, but doesn’t change the trend that good news is now bad and bad news are now good news for the market
Intermediate/Long term bonds moving a lot today. 2y rates: +6.36% 10y rates: +4.62% 30y rates: +3.17% The 1m and 3m rates are "just" +0.67% The 2y-10y difference is just 17.3 bps and has been coming down hard this week But in stocks, Wednesday was the 5th up day in a row for the SPX. In a week (July 11 eod), look for us to be higher than SPX 2995.8.
Traders still believe the Fed will cut by a quarter point in July even after blowout jobs report The fed funds futures market is now pointing to a 93.5% chance of a quarter-point rate cut next month and a 6.5% probability of no rate changes, according to the CME FedWatch tool. Traders were pricing in a 30% chance of a half-point cut in July before the release of the jobs report Friday. Odds for a quarter-point cut were 70% before the report. Payrolls jumped in June well above expectations as the U.S. economy added 224,000 jobs. https://www.cnbc.com/2019/07/05/tra...t.html?__source=sharebar|twitter&par=sharebar
