Friday, July 6, 2007
June employment number... strong
-June has seen another 132k workers added into the job market, higher than expected 125k
-May employment number is revised up with another 75k jobs.
-Jobless rates held at 4.5% for a 3rd month
-still strong job growth is holding up consumer power, offseting the weakness in decline home values and risign gasoline prices.
-concerns about higher inflation and fund rate hike increases
-10y Treasury yield increased another 6 bps to 5.19%
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