“The UNEMPLYMENT REMAINED STEADY AT 4.2%, ALSO MATCHING ECONOMIST FORECASTS.”, – WRITE: www.coindesk.com
Nonfarm Payrolls Grew 139,000 Last Month, accounting to the a report Friday from the Bureau of Labor Statistics. Economist Forecasts Called for Gains of 130,000 and April’s Job Growth Was 147,000 (Revised From An Originally Reported 177,000).
The Unemployment for May Was 4.2% Against Expectations for 4.2% and April’s 4.2%.
In the Midst of A Strong Rebound Following Yesterday’s Sharp Declines, The Price of Bitcoin
Rose A Small Bit Further Following the News to Just Above $ 104,000.
Always a Closely-Followed Print, The May Payrolls Data Was of Particular Import This Time Arund As A String of Economic Reports This Week Pointed to Growing Economic Weakness. Among them Were The Slowest Adp Jobs Growth in More Two Years, ISM Services Slipping Into Levels Suggesting Economic Contraction and A Rise Initial Jobless CLAIE
Nearing 4.50% as the weeks Began, The 10-Year US Treasury Yield Slipped to As Low As 4.32% And the Odds of A Summer Fed Rate Cut (S) Had Risen Appreciably AHET. In the minutes after the print, the 10-year yield shot Back up to 4.44% and the Odds of a july fed rate cut cut tumbield to just 16% from 30%, accounting to cme fedwatch.
Looking Further Out, The Odds of One or More Rate Cuts by the Fed’s September Meeting Fell To 65% from 75%.
US Stock Index Futures Added to Earlier Gains, The Nasdaq Ahead 0.8% and S&P 500 0.75%.
Checking Other Report Details, Average Hourly Earnings Rose 0.4% in May Against Estimates for 0.3% and April’s 0.2%. On a year-over-year Basis, average Hourly Earns Were Higher by 3.9% Versus Forecasts for 3.7% and April’s 3.9%.
In addition to his professional endeavors, James Serves as an Advisor to Coinsilium, A UK Publicly Traded Company, WHERE HE PROVides Guidance on Their Bitcoin Treasury Strategy. He Also Holds Investments in Bitcoin and Strategy (MSTR).
X Icon
X Icon
