Well we’ve had a pretty mediocre start to Economic Super Bowl, as each of the datapoint has been something of a bummer.
Initial claims rose again to 383K.
Challenger job cuts surged 66% from last year.
GDP didn’t do anything special.
And so the rush into risk free continues.
Remember, yesterday we saw a huge rush into bonds, with countries all around the world seeing record low yields.
The yield on German bunds is down to 1.26%.
The US 10-year yields is right at 1.6%, and briefly dipped below that.