The holiday hangover continued through Monday as trading volume remained light despite the fact that there was plenty of economic data released yesterday. Jobless claims, PMI Manufacturing Index and the ISM Manufacturing Index all showed signs of an improving economy but the bond market reacted very little and we continued to trade in a narrow range. There is not much scheduled for economic news for today but several Fed officials will be making speeches including outgoing Chairman Ben Bernanke who takes the stage at 2:30 PM. Trading levels should get back to normal by Monday with everyone starting to return from the holiday break. Have a good weekend everyone.
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