Salient to Investors:

Mohamed El-Erian at PIMCO sais the economy is healing gradually.

Hedge-fund managers et al reversed from net-short to net-long in 10-year note futures for the week ending July 31.

Gary Madich at J.P. Morgan Asset Management said the jobs number shows we are not going into a recession or Armageddon.

Fed Bank of Richmond President Jeffrey Lacker opposes the Fed’s decision to keep the main interest rate near zero through at least late 2014 because it won’t be necessary.

The Fed’s term premium shows Treasuries are almost the most expensive ever.

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