Still dealing with the fall-out and so our update will be extremely brief. The data SUCKED. AHE were NON EXISTENT @ 0.00 … that is NOT good and somehow ALL we can think about is, “MR. BLUTARSKY… ZERO POINT ZERO.” -Animal House. Right … we’ve got issues. Back to the BLS, though … did we say the data was not good? While we’d THINK it supportive OF the UST mkt and in a flattening way, we’ve got supply (3s/10s/30s) to deal with SO the longer end lags on the way UP and 5s on the fly are movin’. Here’s a chart FROM the BLS (fully linked to just below) that we’ve marked UP. Again, though, the data sucked. More at 11.

Employment Situation

December 03, 2010
The unemployment rate edged up to 9.8 percent in November, and nonfarm payroll employment was little changed (+39,000). Temporary help services and health care continued to add jobs over the month, while employment fell in retail trade. Employment in most major industries changed little in November.


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