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Both Canadian and American labour market data for May surprised to the upside, and the Treasury market has been monkey-hammered. My view always was that guessing what would happen this month is a bit of a waste of time, and we won't get a clean read until the June data. A mechanical bounce in employment was always in the cards, the question is when, and at what levels. One data point doesn't establish a trend, but a lot of folks are breathing more easily today. Now let's hope that there isn't a second wave.Bond EconomicsLabour Market BounceBrian Romanchuk
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Both Canadian and American labour market data for May surprised to the upside, and the Treasury market has been monkey-hammered. My view always was that guessing what would happen this month is a bit of a waste of time, and we won't get a clean read until the June data. A mechanical bounce in employment was always in the cards, the question is when, and at what levels. One data point doesn't establish a trend, but a lot of folks are breathing more easily today. Now let's hope that there isn't a second wave.Bond EconomicsLabour Market BounceBrian Romanchuk
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Mike Norman considers the following as important:
This could be interesting, too:
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Both Canadian and American labour market data for May surprised to the upside, and the Treasury market has been monkey-hammered.
My view always was that guessing what would happen this month is a bit of a waste of time, and we won't get a clean read until the June data. A mechanical bounce in employment was always in the cards, the question is when, and at what levels.One data point doesn't establish a trend, but a lot of folks are breathing more easily today. Now let's hope that there isn't a second wave.
Bond Economics
Labour Market Bounce
Brian Romanchuk