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Originally Posted by Pastiche
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Most of the jobs were part time retail jobs and full time jobs actually declined in Canada. In the US the bond markets were pricing in 230,000 lost jobs and the number was unexpectedly 216,000. Your right though as the employment numbers were better than expected. This clearly tells you that things are getting better.
Other positive signs :
-Libor has fallen for 12 straight days and the fed and treasury have done a great job at easing pressure on the credit markets.
http://www.bloomberg.com/apps/quote?ticker=US0003M:IND Quite amazing if you think about where things were last year : see :
http://www.nytimes.com/2008/09/15/bu.../15lehman.html
-Next week will see 70 billion in treasury offerings and foreign investors continue to like US debt.
-Global PMI numbers continue to improve.
-As a result markets around the world are going up right across the board : TSX is up about 20% year to date, S&P 500 over 10%, not to mention the Brazil index that is up close to 48% year to date but then again it was down over 40% last year so this year is just pay back from last years mess. Classic mean reversion.
http://www.raymondjames.com/indices1.htm
It is like watching a bunch of magicians doing magic and you are not sure how they are doing it but it continues to work. I guess it is like the Bricks don't pay a cent event
and the Brick nations are the enablers lining up to buy the debt....It is still hard to ignore the 7 Trillion in US debt and Obama's talk about health care reforms which will pile on more....
http://www.npr.org/templates/story/s...514565&ps=cprs I Guess that is why I am riding stop losses!