Bonds Steady While Equities Try to Recover

Overnight trading has turned equity arrows green as those markets try to claw back some of the ground lost over the past few days. Treasury prices are little changed so far with the Ten-Year yielding around 67 basis points as $35B more of that issue go on sale a little later today. The Long Bond is hanging around 1.42% with the short end anchored by a 14 basis point Two-Year. Also a little later this morning, the BLS will be releasing its Job Openings and Labor Turnover Survey which should tell us that openings for new jobs grew slightly in July to around 6M. Increases in the number of new, unfilled positions are seen as a good sign. The only news so far today was a report from the Mortgage Bankers Association telling us that, for the week ending September 4th, Mortgage Applications rose 2.9% and that helps to offset the prior week’s dip of 2%.

Gold is up a couple of dollars to around $1,934 while crude oil continues to struggle at around $37.50.