Monday, 06/05/2017 Mid-Day Report

This morning we got the biggest economic data point of the week, the ISM non-manufacturing report on Monday. The composite index fell 0.6 points last month. Manufacturing is expanding, albeit slower than expected. 

Price indices fell again but employment jumped. With this print and reeling from the payroll report on Friday, the 10-year yield is near a two-month low at 2.176%. Mortgages are off slightly this morning.

In anticipation of the FOMC meeting June 12-13, there are no scheduled speaking engagements until June 15th. 

Federal Reserve policy limits the extent to which FOMC participants and staff can speak publicly or grant interviews during Federal Reserve blackout periods, which begin the second Saturday preceding a Federal Open Market Committee (FOMC) meeting and end the Thursday following a meeting.

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