Following speculation of a practical solution to the European debt catastrophe, treasuries plunged further yesterday. Pressure from external authorities binds government and financial experts overseas, as U.S. Treasury Secretary Timothy Geitner continues to urge European nations to diffuse compounding debt.
Bonds opened slightly higher from where they closed last night and remained higher following the jobs report. This morning’s U.S. initial claims for unemployment benefits dropped slightly. Tomorrow’s unemployment report is more closely watched and is expected to come in slightly lower, at 9.7 percent.