10 Things You Need To Know - May 9, 2017

Key data releases this week include: NFIB small business optimism (Tue), PPI (Thu), CPI (Fri), retail sales (Fri), and consumer sentiment (Fri).
Haver
May 5, 2017
The job market firmed with the beginning of spring. Nonfarm payrolls rose 211,000 (1.4% y/y) during April. The rise followed a 79,000 March gain and a 232,000 February rise. These figures together were revised down by 6,000. Expectations had been for a 188,000 increase in the Action Economics Forecast Survey.
Haver
May 3, 2017
At (Wednesday’s) meeting of the Federal Open Market Committee, the targeted federal-funds rate was left unchanged in a range of 0.75% to 1.00%. The targeted range has been raised three times since the low of 0.12% in place from late-2008 until late-2015. Further interest rate increases appear likely. The statement accompanying today's meeting indicated that "The Committee views the slowing in growth during the first quarter as likely to be transitory."
Reuters
May 3, 2017
Irish Times
Wednesday, May 3, 2017
May 3, 2017
Politico Pro
The eurozone economy expanded 0.5% in the first quarter, slightly faster than the UK and US figures, Eurostat said. The entire EU grew 0.4%.
Bloomberg
May 2, 2017
A number of key economic indicators for the eurozone indicate strengthening on several fronts, including GDP, employment, consumer sentiment and manufacturing orders. European Central Bank President Mario Draghi described the recovery as "solid and broad" but continues to caution that it could be undone by global events.
Deutsche Welle/Reuters/Bundesbank
May 4, 2017
With prices rising rapidly, fueled by mortgage rates below 2%, Germany is dangerously close to a real estate bubble, said Andreas Dombret, the Bundesbank's chief banking supervisor. "The mixture of booming real estate market and low interest rates can become a dangerous cocktail for the banking and savings bank sector," he said.
Bloomberg
May 7, 2017
China’s foreign-exchange reserves rose for a third month in April, beating estimates, as tighter capital controls kept money from flowing out of the country and the yuan was stable. Reserves climbed $20.45 billion to $3.03 trillion, the People’s Bank of China said Sunday, compared with a median estimate of $3.02 trillion.
Bloomberg
May 1, 2017
Financial Times
Monday, May 1, 2017
A barrage of financial regulations in China, stemming from an order by President Xi Jinping to crack down on financial risks, is said to have caused market uncertainty and last week's sharp fall in bond prices. However, generally positive economic indicators and widespread confidence that there is room for growth to continue have made investors' response calmer than it might have been, according to several market analysts.
ThinkAdvisor
May 1, 2017
InvestmentNews
Monday, May 1, 2017
May 1, 2017
Pensions & Investments
Republican lawmakers wanted to use a $1.07 trillion spending bill aimed at preventing a shutdown of the US government as a vehicle to kill the Labor Department's fiduciary rule, but Democrats stopped them. Congressional Democrats blocked the addition of "poison pill" riders to the stopgap spending measure.
MarketWatch
May 3, 2017
The Wall Street Journal
Wednesday, May 3, 2017
The Treasury Borrowing Advisory Committee, made up of primary dealers and other bond-market participants, has advised the Treasury Department against issuing ultralong debt. Demand for a 50-year bond would undermine issuance of the 30-year bond, and 100-year paper "is not worth considering," the group says, recommending instead the return of a 20-year bond and increased issuance of 10- and 30-year bonds.