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Stir in the bearish NAPM, construction spending, and labor reports this
morning and salt the brew with _the_ labor report due out tomorrow morning
in thin markets. I would have expected the brew to break into such a boil
that bonds would break the March low at 119^09. Perhaps the fact that the
reaction seems to be so muted is bullish for bonds (assuming that 119^09 is
not taken out today)?
Earl
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