The Nemenoff Report – Bonds Higher, S&P’s Higher, Silver Lower

Financials: Sept. Bonds are currently 6 higher at 127’10. This mornings ADP private sector employment report showed an increase in jobs of 16K versus an estimate of 60K. A disappointment, and probably an indication of what Friday’s monthly jobs report will show. I am still holding the combination of short Sept. Bonds and short the Sept. Bond 122’00 put.

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