Business

So stocks looked on the bright side of life's terrible jobs data...

Authored by Craig Wilson via DailyReckoning.com,

Stuart Varney, the Fox Business economic host, started out his discussion based around the presentation of Ronald Reagan’s presidency. In his initial discussion layout, Varney identified that during Reagan’s tax cut policy ranging from January 1983 until Reagan’s exit in 1989 the U.S economy grew at an annual rate of 4.8%.

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Raoul Pal Slams Bitcoin: “It’s Not The Store of Value People Thought It Was”

Written by Peter Diekmeyer (CLICK HERE FOR ORIGINAL)

Another company on the infamous Fitch "retail death list" has taken its first step toward bankruptcy.

On Thursday, distressed children's clothing retailer Gymboree elected not to make the interest payment due June 1 on its outstanding 9.125% notes due in 2018, Debtwire reported, with Moody's downgrading the company to D from CC on Friday, as it does not expect Gymboree to make the interest payment, "or any other payments on its debt obligations, and sees a general default given ongoing lender negotiations."

With yields plunging to 2017 lows, the Treasury curve has collapsed with 2s30s at its flattest since early September (and 2s10s at its flattest since early October).

This, as Gary Cohn noted, reflects bond investors' poor outlooks for longer-term growth... which, with equity markets at record highs, is entirely missing from stock investors' minds.

http://player.cnbc.com/p/gZWlPC/cnbc_global

Now where would bonds get the idea that all is not well from?