Light Data Day

Today’s economic calendar is pretty thin with the only scheduled statistical release coming from the Bureau of Labor Statistics a little later this morning. The BLS is expected to release its Job Openings and Labor Turnover Survey for February and analysts believe it will show that the number of new job openings fell to 6.9M from 6.92M. Declining numbers of openings are not considered a positive characteristic for labor markets, but with the last two Jobs Reports coming in surprisingly strong, the labor markets appear to be healing rapidly along with general economic conditions.

Overnight reports that the Peoples Bank of China is encouraging that nation’s lenders to temper credit growth has given pause to some investors amid growing concerns that bubbles might be forming within the Chinese economy. Domestically, Treasury prices are little changed with the Long Bond yielding 2.34%, the Ten-Year at 1.69%, and the Two-Year at 17 basis points. Crude oil has rallied about a dollar to $59.69 while gold has strengthened a bit to $1,735. Equity futures point to a slightly weaker opening.