Posted on 06/03/2024 7:24:54 AM PDT by Miami Rebel
Rates on U.S. government debt fell further Monday morning after construction- and manufacturing-related data came in below economists’ estimates.
In data released on Monday, U.S. construction spending fell 0.1% for the month of April versus economists’ forecast for a 0.2% gain.
In addition, the Institute for Supply Management’s manufacturing purchasing managers index came in at 48.7%, or below the median forecast of 49.6%, as the sector contracted for a second straight month.
Traders are looking ahead to Friday’s release of the official jobs report for May, which is expected to show a 178,000 gain versus 175,000 in the prior month, based on the median estimate from economists polled by The Wall Street Journal.
Meanwhile, Fed officials are in a silent period ahead of their June 11-12 meeting.
(Excerpt) Read more at marketwatch.com ...
Unexpected!
It's the economy stupid.
Treasury rates down = treasury prices up.
Everything is going better than expected and everyone is still having a cow. Recessions are normal, periodic and necessary. Recessions aren’t the end of prosperity, they are the entryway to more of it.
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Russia is now the fourth largest economy in the world – World Bank
6/2/24
"The World Bank has just updated its data on the size of the world’s economies where it states that since 2021, the Russian economy has become the fourth largest economy in the world, surpassing both Japan and Germany ..........."
A. The US president has little to do with a foreign country’s economy.
B. The World Bank’s ratings of countries by GDP are:
1. US
2. China
3. Japan
4. Germany
5. India
6. UK
7. France
8. Russia
9. Canada
10. Italy
(Source: World Bank (World Development Indicators, July 25, 2023
Of those top ten countries, Russia is the ONLY one showing negative growth.
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