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Trading Radar: S&P 500 Makes New Highs, Jobs Week on the Horizon
Equities grinded to multi-year highs over the past holiday-shortened week as most economic data (besides the weekly initial jobless claims data) was weaker though this is not entirely unexpected given the recent hurricane in the northeast. The existing and new home sales data were both notably weaker and the regional Fed surveys continued to show extreme weakness. Treasuries were stronger throughout the week but were pummeled on Friday after European banks repaid a sizable sum of loans taken via the central bank's LTRO program and German bunds took a dive. Next week is the monthly nonfarm payrolls report from ...
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