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This Morning's Unemployment Report

06/03/2010
Clearly, the absence of private sector job growth in this morning's Unemployment Report is rather troubling. The result is that the Federal Reserve must remain in a low rate environment for "an extended period of time."  In addition, the reintroduction of "underweight" allocations will be warranted. There will also be many suggestions of a domestic double dip recession - I disagree with that.

I believe that the continued ZIRP (zero interest rate policy) will prevent a riotous 2008 style market decline, but clearly the Baseball Season of Frustration plays on. 

Private Sector Jobs

Source: Bloomberg

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