Weak Jobs Keep the "Bizzaro Market" Going

Posted on October 22nd, 2013

Today’s late release of the jobs data showed September added 148,000 new jobs and is considered to be a disappointment.  However, it still sent equities higher and bond rates lower as this “Bizzaro Market” of bad news is good news continues.  It is widely accepted that the economy needs to add at least 200,000 jobs per month to provide enough help pull the US out or recovery mode.  Anything less than that will be considered a disappointment.
 
MarketWatch.com has put some nice charts together in the following article: Breaking down the jobs report with charts.
 
While we don’t consider ourselves to be insiders on the Fed, based on what they have said, it seems like the data they are watching, like the unemployment rate,  won’t cause them to taper any time soon. This means low interest rates should persist and potentially drop lower from here.


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