It's The Socialist Worker's Holiday! It's also a data dump day. It's also FOMC Fedline day. And it's also the 13th anniversary of the May Day Silver Massacre. That's a lot to cover. Let's get started.
I don't know. I guess we'll begin with the data thus far.
- ADP jobs report slightly stronger than expected
- S&P Manufacturing PMI right at expectations
- ISM Manufacturing PMI below expectations and back under 50
- JOLTS job openings less than expected
How have these impacted the charts? Let's start with bond yields....
