Weekly Fundamentals: Investors Turn Risk Averse as Weak Eco Data Signals Slowdown in Growth
BonTradeMarket sentiment was significantly, and negatively, affected by macroeconomic data and concerns over Greece's access to funding last week. US' non-farm payrolls rose +54K in May, greatly missing market expectations of a +190K addition, after a downwardly revised +232K reading in April. Unemployment rate surprisingly rose to 9.1% in May from 9.0% in the prior month. The market had expected a dip to 8.9%. PMI data released sent a general perception that global manufacturing activities are slowing down. The US ISM manufacturing index surprisingly fell to 53.5 (consensus: 57.5) in May from 60.4 in April. In China, PMI slowed to 52, the lowest reading in 9 months, in May from 52.9 in the prior month.
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Weekly Fundamentals: Investors Turn Risk Averse as Weak Eco Data Signals Slowdown in Growth
