Haver
June 3, 2016
Nonfarm payrolls grew just 38,000 (1.7% y/y) during May following downwardly revised gains of 123,000 and 186,000 during the prior two months. Revisions subtracted a combined 59,000 from April and March. It was the smallest increase since September 2010. A 154,000 increase had been expected in the Action Economics Forecast Survey.
Haver
June 2, 2016
The ADP/Moody's National Employment Report indicated that nonfarm private sector payrolls rose 173,000 during May following a 166,000 April rise, revised from 156,000. These gains compare to an average of 200,000 during Q1'16 and 219,000 in Q4'15. The peak quarterly increase occurred in Q2'15 at 230,000. The latest roughly matched expectations for a 170,000 rise in the Action Economics Forecast Survey.
Haver
June 2, 2016
Initial claims for unemployment insurance fell to 267,000, up 6.5% y/y, during the week ended May 28 versus an unrevised decline to 268,000 in the prior week. It was the third consecutive weekly shortfall, but it left the average so far in May above April. The Action Economics Forecast Survey expected 270,000 claims
Barron’s
June 6, 2016
While the unemployment rate plunged to 4.7% last month, from 5% in April, it was because 664,000 people left the workforce.
Merrill Lynch/Barron’s
June 6, 2016
The average Wall Street strategist’s recommended stock allocation now stands at 51.6%. That is well below the 15-year average of 59%, and even lower than it was at the market bottom in March 2009. The good news: When the indicator dips to these levels. 12 months later the S&P 500 has been higher 97% of the time.
Barron’s
June 6, 2016
Five months into the year; just 31 companies have gone public in the U.S. That’s down from 69 in the first five months of 2015, and 115 over the same period in 2014. Since 2000, there have been eight calendar years with fewer than 100 IPOs. In the 12 months following each of those years, the S&P 500 climbed an average of 13.1%, including dividends.
The Economist
May 28, 2016
Nothing would be decided quickly if Britain votes to leave the EU. It would remain a member for two years (possibly more) after starting the exit procedure, while it negotiated the terms of its departure.
The Economist
May 28, 2016
Around 77% of Americans are very or somewhat confident that they are well prepared for retirement but only 63% say they have saved any money towards it, according to the Employee Benefit Research Institute.
BBC
June 2, 2016
Bloomberg
Thursday, June 2, 2016
June 2, 2016
The Wall Street Journal
The European Central Bank left interest rates unchanged Thursday, as expected, and raised inflation and growth forecasts for 2016 moderately, to 0.2% and 1.6%, respectively. The ECB will begin purchasing corporate bonds Wednesday.
Goldman Sachs/IBD
June 6, 2016
Every major country with a rapid increase in debt has experienced either a financial crisis or a prolonged slowdown in GDP growth. History suggests that China will face the same fate.

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