By | May 31 2012 9:34 AM

Financials: Sept. Bonds are currently 11 higher at 149'14 and the Sept. 10 Yr. Notes 4 higher at 133'26.5. The yield on the 10 Yr. Note is now at a nearly 60 year low of 1.612%. A number of reports this morning: GDP came in at up 1.9% vs. average expectations of 2.2%. ADP private sector jobs showed an increase of 133,000 vs expectations of 150,000. Weekly initial jobless claims were up 10,000 vs. expectations of unchanged. I still feel that the Bonds are near or at a bubble and recommend buying out of the money puts for Sept. expiration because of the limited risk.