Monday Market Commentary

by Alex Stenback on June 6, 2005

Last Week
Friday’s employment figures showed the economy created just 78,000 jobs in May – falling short of market expectations by over 100,000.  Though bad news for the economy, this was good news for rates, which dropped again last week. The thirty year fixed is now testing 12 month lows.
This Week
Mostly second-tier data on the calendar this week, though we could see some volatility as the market digests last Friday’s employment surprise.  This Friday’s trade data will likely be the figure to watch – a shrinking deficit could strengthen the dollar and put additional downward pressure on the bond markets.
· This Weeks Economic Calendar [briefing.com]
· Latest Twin Cities Real Estate Market Report [MAAR]

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