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1.Market Observations, 8.Was Sticky

2 June 2017 (NYTimes) – The U.S. economy grew by 138,000 jobs in May, clearing the way for the Fed to raise interest rates in two weeks

(2 June 2017, New York Times online)

‘Unemployment sank to 4.3 percent in May, its lowest level in 16 years, the government reported Friday, but halfhearted wage growth and a shrinking labor force revealed the economy’s stubborn weak spots. While the downsides sent bond prices lower, the report is unlikely to deter the Federal Reserve from raising interest rates when its policy makers meet in Washington this month. “It is not enough to derail the Fed at all,” said Dan North, chief economist at the credit insurer Euler Hermes North America.’



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