Calling NFP in current conditions is tough and it could be anywhere within 20000 jobs of consensus which is at 18000. However, the big problem is that any of those numbers will not be enough to bring a smile on the face of investors. After April’s 217000 jobs everything was downhill and proof that QE2 was just a good idea on paper.
Bottom line, today’s number it is irrelavant in current environment unless it is a really big surprise. But a really big one which I am afraid will not be.
I am not going to say it yet but cash looks better and better.