The employment data is done for the week, so we have energy news, where Oil, after breaking $135/bbl then settling around #131, is now back above $132/bbl, and gas prices are trending up again, though some of the latter is no doubt due to the upcoming 3 day weekend.
The dollar is trending down against all major currencies, hitting $1.5755:€1.0000, a bit below the $1.60 record, but not by much.
In real estate, we have existing home sales falling 1% in April, no signs of the foreclosure rate abating, and inventories soaring.
Is it any wonder that mortgage lenders are tightening standards to where they were a few deccades back?
This credit tightening is going to take an economy already in recession*, and throw it down a well.
On the brighter side, it appears that the municipal bond market has finally shaken itself out a bit, recovering from the auction rate security implosion of a few months back.
*Yes, I know that it's not official yet, but we know the reality when it bites us on the ass.
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