May 15. Every day I have the blues. BB King
–Quiet session Thursday with another data miss as PPI was expected +0.2 and actually came in at -0.4, with yoy Core PPI at just 0.8%. However, Jobless Claims were only 264k, near the lowest levels since the early 1970’s according to my BBG. I can’t even believe it tracks back that far…
–Yields declined on the day as treasury concluded auctions with the 30 year bond which went off at 3.044. Ten year yield fell 3.8 to 2.275. Green eurodollar pack led to the upside closing +8.25. (Blues +7.125, golds +6.0). New contract high in January 2016 Fed Funds which closed 9964.5.
–Interesting article on MSN Money: The Trucking Business is Delivering Chilling News about the Economy
“In reality, over-the-road shipping volumes fell 5% in March from the prior year. It seemed like a fluke. But in April, according to the just released Cass Freight Index, shipping volumes fell again, this time by 2.5%. The index for shipping expenditures fell 3.5% in March and 4.7% in April.”
http://www.msn.com/en-us/money/markets/the-trucking-business-is-delivering-chilling-news-about-the-economy/ar-BBjMdjT
