Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube

  US Economy and Credit Markets Ended June 4, 2021
Posted Under: Weekly Market Commentary

U.S. Treasury bond yields were mixed last week. Treasury yields on the short end of the curve finished higher, while longer-term maturities finished lower during holiday-shortened week. Earlier in the week, the ISM Manufacturing and ISM Non-Manufacturing Indexes both beat consensus expectations. Most notably, manufacturing broadly expanded in May, growing slightly faster than in April. The week wrapped up with longer-dated Treasury yields falling as investors digested a weaker-than-expected jobs report. Nonfarm payrolls increased 559,000 in May, well short of the consensus expectation of 675,000. Despite missing the headline number, other indications point to the continued recovery of the labor market. Nearly half the states have cut overly generous jobless benefits, the unemployment rate dropped to 5.8% in May versus 6.1% in April, and average hourly earnings are up 2.0% versus a year ago. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Tuesday: May NFIB Small Business Optimism (100.9, 99.8), April Trade Balance (-$68.6b, -$74.4b); Wednesday: June 4 MBA Mortgage Applications (n/a, -4.0%), April Final Wholesale Inventories MoM (0.8%, 0.8%); Thursday: May CPI MoM (0.4%, 0.8%), May CPI YoY (4.7%, 4.2%), June 5 Initial Jobless Claims (370k, 385k), May 29 Continuing Claims (n/a, 3771k), May Monthly Budget Statement (-$160.0b, -$225.6b); Friday: June Preliminary University of Michigan Sentiment (84.0, 82.9).
Posted on Monday, June 7, 2021 @ 8:13 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts

The Buy And Hold Investment Strategy Is Not Dead!
A Snapshot Of The U.S. Dollar
US Stock Markets Ended May 28, 2021
US Economy and Credit Markets Ended May 28, 2021
S&P 500 Index Dividend Payout Profile
Sector Performance Via Market Cap. (2020 Bear Market & New Bull Market)
US Stock Markets Ended May 21, 2021
US Economy and Credit Markets Ended May 21, 2021
How Bonds Have Fared In This Millennium
This Covered Call Index Tends To Outperform The S&P 500 When Stock Returns Are Modest Or Negative
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2022 All rights reserved.