Financials: June Bonds are currently 12 lower at 142'15 and the 10 Yr. Note 5 lower at 131'02. Yesterdays ADP Private Sector Jobs Report showed an increase of 198,000 jobs vs. expectations of 175,000. This mornings Weekly Jobless Claims Report showed a decline of 7,000 vs expectations for an increase of 3,000. Trade balance showed -44.45 billion dollars vs. expectations of 43.00 billion. Estimates for tomorrow mornings Monthly Employment are for an increase in non-farm payrolls of 160-170,000. Near term support of 143'05 has been penetrated. I recommend taking profits on all long 10 Yr. Note/short Bonds or long 5 Yr. Note/ short 10 Yr. Note spreads. If you are long out of the money puts and/or put spreads, hold.
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