2017 Economic Calendar
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Market Reflections  

June 2, 2017
The economy is slowing going into what looks like a rate hike at the upcoming FOMC. Nonfarm payrolls came in below expectations at 138,000 in May and included big downward revisions to April and March, results that put job growth at its slowest pace in 5 years. The trade deficit also disappointed, widening sharply in April to $47.6 billion in yet another negative for second-quarter GDP.

The mix of slowing growth and a pending rate hike didn't hold down the Dow which rose 0.3 percent to a new record at 21,206. But money also moved into the bond market indicating a rise in caution, at least among some. The 10-year Treasury yield fell 6 basis points on the day to 2.15 percent. Unlike stocks and bonds, the dollar moved lower, down 0.5 percent on the dollar index to 96.69.

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