Good Morning,
Market
participants will have some additional time to digest Friday’s NFP
numbers and what they think it means for the future of QE. Shanghai is
on holiday until the 13th
of June and there is little in the way of economic reports
to start the week. Just in case you missed it, the Labor Department
reported that 175,000 jobs were added to the economy last month which
beat expectations and was higher than the downwardly revised 149,000
jobs added in April. The unemployment rate went
the wrong direction, up to 7.6%, and to make things even more
confusing, the Labor Force Participation Rate moved up to 63.4%. What
does it all mean? Well, that’s for the individual to decide because
cases can be made for either side of the QE debate. However
Chairman Bernanke and his cohorts decide to define the word
“sustainable” at the next FOMC meeting will give us a better picture.
The precious complex is mixed this morning but relatively quiet
following Friday’s festivities. Have a great day!
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