A deluge of bad data conspired to sink markets in the Holiday-shortened week as most major benchmarks finished the period down significantly. The S&P 500 sank by 2.8% on the week while the ten year Treasury Bond was boosted by heavy amounts of safe haven buying and flirted with the 3.00% mark to close out Friday’s session. This was largely due to the horrendous data on the jobs front as far less jobs than expected were created both when looking at the ADP report and the government numbers. The ADP report showed that just 38,000 jobs were created during the month, well below analyst estimates of 175,000 and it was further confirmed on Friday when the non farm payrolls rose by just 83,000 and the unemployment rate jumped 0.2% to the 9.1% mark. “The jobless data was clearly a shock to the system today, as investors were reminded that the [...] Click here to read the original article on ETFdb.com. Related Posts: May ETFdb Category Kings: Best Performing ETFs IndexIQ Debuts Japan Mid Cap ETF (RSUN) Van Eck Plans Mongolia ETF Here’s An Idea: Small-Cap BRIC ETF Three ETFs To Watch This Week: EWJ, FXE, NORW