Will the Velocity of Money Finally Rise?

(Capital Trading Group) Last week we saw NFPayrolls rise 213k above the 195k that was widely expected. May’s payroll report was also revised higher by some 21k to 244k. One weak spot was that the unemployment rate saw a .2% up tick to 4.0% and the average hourly earnings which saw a 0.2% increase with yoy rising only 2.7%, was a percentage point less than expected. Manufacturing and construction continued to lead the charge as yoy figures show them adding 285k and 282k jobs respectively. (WSJ) The other noteworthy news item last week was the highly anticipated “Fed Minutes.”

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