Initial Jobless Claims Decreased 24,000 to 601,000 in the week ended June 6, fewer than forecast and the lowest level since January, from a revised 625,000 the prior week. The number of people collecting benefits rose for a 19th straight time to a record 6.82 million in the prior week.
Retail Sales rose 0.5% in May, the first gain in three months and as forecast, after a 0.2 percent drop in April. Sales also increased 0.5 percent excluding autos, led by gasoline as prices jumped last month.
U.S. Treasury 10-Year Note Yields Rise to 4% for First Time Since October Treasury 10-year note yields reached 4 percent for the first time since October on concern surging budget deficits and a falling dollar will prompt investors to reduce holdings of U.S. debt as issuance climbs to a record.
Fed Beige Book Says Recession May be `Moderating,' Labor Weakness Persists The economy weakened further in April and May, but the severity of the downturn is easing in almost half of its regions, with the outlook at some companies improving while “stringent” loan conditions and a “weak” labor market persist.
Mortgage Rates Rise, Risking the Recovery Rising interest rates threaten to dim prospects for a housing recovery and choke off a refinance wave that was a major plank of Obama's economic-stimulus efforts.
Get Ready for Inflation and Higher Interest Rates. The unprecedented expansion of the money supply could make the '70s look benign. Here we stand more than a year into a grave economic crisis with a projected budget deficit of 13% of GDP.
Dollar's Status as World's Reserve Currency May Deteriorate The dollar’s status as the world economy’s sole reserve currency may deteriorate, said Nouriel Roubini, the New York University economics professor who predicted the financial crisis.