Initial Jobless Claims, which measures an individual’s filing for unemployment benefits for the first time, opposed to Continuing Claims.

These two reports show what we already know is happening. Employers are holding onto their workers. The Labor picture has been slowing down as seen by Employers hiring less.

Those Employers are not trimming jobs, just hiring less. Tomorrow is the big Jobs Report data. What we expect to see is job growth miss the expectation which would lead to a positive reaction in the Bond market.

Speaking of the bond market, I’m guessing you have noticed rates have gone up quite a bit the last few weeks. Treasury Yields at their highest since July 2007.