Great U.S Jobs Number Push 10 Year Lower

10 Year Note Futures---The 10 year note in the June contract settled last Friday in Chicago at 120/06 while currently trading at 120/02 basically unchanged for the week reacting negatively to the incredible U.S jobs report which was released this morning adding 313,000 jobs as the real shocking number was 806,000 people went back into the workforce which was the highest number in 35 years.

Hourly earnings rose 2.6% as that is a inflationary indicator and of these type of numbers continue which are remarkable in my opinion you're going to see interest rates rise rather precipitously over the rest of the year as I remain very bearish & if your a longer-term investor I would be short this market.

I was stopped out of the futures position last Friday as I will be looking at getting back into the short side as the chart structure is outstanding at the present time due to the fact that the volatility is very low so keep a close eye on another possible bearish position in next week's trade.

The current yield on the 10 year note is 2.90% as I still think were headed for 3.50% come Christmas time as this was one of the best monthly unemployment numbers in recent memory as the U.S economy is a well oiled machine at this time & looks to even progress more in the coming years ahead with less regulation and tax cuts continuing to spur growth which is a terrific thing to see.




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