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May 6, 2013

Looking ahead and Looking back.

May 6, 2013

Looking ahead and Looking back.

There are no economic fundamentals today and all that we have this week (aside from the weekly reports of Mortgage Applications and Initial Jobless Claims) are Consumer Credit (Tuesday) and Wholesale Trade (Thursday).

Last Friday’s “buy equities, sell Treasuries” reaction to the BLS Employment Situation Report made it easy to forget that the report itself was mediocre and the jobs situation in general remains terrible.  Jobs have been offshored or replaced by automation resulting in a population without the skills for the positions available.