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Monday, April 9, 2012

Morning Report

Vital Statistics:
Last Change Percent
S&P Futures 1374.7 -15.5 -1.11%
Eurostoxx Index 2392.5 -5.9 -0.25%
Oil (WTI) 101.65 -1.7 -1.61%
LIBOR 0.4692 0.000 0.00%
US Dollar Index (DXY) 79.92 0.034 0.04%
10 Year Govt Bond Yield 2.03% -0.02%
RPX Composite Real Estate Index 170.61 -0.1

Slow news day.

Equity futures are lower on the back of Friday's lousy employment report. Bonds and MBS are rallying, with the 10-year again flirting with t a 2% yield. European markets are closed for the Easter holiday, so volumes will be light.

Friday's employment report showed an increase of 120,000 private sector jobs and a drop in the unemployment rate to 8.2%. The reason for the drop in unemployment was due to a drop in the labor force participation rate, which has fallen from 64% to 63.8% since December. These are the 99-ers who have exhausted their unemplyment benefits and no longer count as part of the labor force.

Alcoa kicks off Q1 earnings season tomorrow after the close

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