28th May 2021 Morning Report

The new US Labour Department unemployment claims fell 38,000 to a seasonally adjusted 406,000 for the week ending May 22. This was better than expected, with companies finding it difficult to fill vacancies to meet surging demand for goods and services due to rapid economic recovery. Pent up savings is also expected to boost economic recovery further. 

U.S. stocks advanced marginally as the weekly jobless claims lifted US Treasury yields with the benchmark 10-year note reaching a high of 1.625% which damped the attractiveness of higher growth stocks. Financials and small caps did better.  

Morning Report 28 May 2021

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