I don’t think we have had a more important employment report this year than the one which will be released tomorrow morning at 7:30 a.m. (central).
Markets have been hanging their hat on the Fed starting to back off rate hikes based on weakening economic reports–of course the reports the Fed is looking at have not been weak–employment and the various inflation gauges.
Tomorrows forecast is for an added 275,000 new jobs in September with teh unemployment rates hold steady at 3.7%–honestly that doesn’t seem very weak to me. I suspect if the number comes in high both stocks and bonds are going to get hammered–while 200,000 or 225,000 might be seen as a move in the right direction.
Next on deck is the CPI report next Thursday–so after ‘jobs Friday’ we get a few days to recuperate before nervousness sets in again.
Today I bought a little dab of the Liberty Broadband 7% preferred (LBRDP) (again), some Customers Bancorp 5.375% baby bonds (CUBB) with a current yield of 6.62% and my Tricontinental $2.50 preferred (TP-P) order executed at $46.25.