Bonds tumble, EUR/USD drops

The jobs report came out with lower than expected jobs created, but not by much. The bond market spiked initially higher, but then dropped hard and fast, and is now down .7% on the day. We believe a technical picture is setting up for a multi-point downmove in the U.S. 30-year bonds. The October 2016 U.S. West Texas Intermediate crude oil is up over 3% today, but is bumping up against a key resistance level. As we noted earlier this week, coffee did indeed explode higher, and we would not be surprised to see another run higher soon, possibly even to $1.59.



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