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Weekly Economic Perspectives: US Nonfarm Payrolls Recovering From Unprecedented Shock
Last Week's Highlights
The Economy The US employment recovery continues. Canada’s April GDP contraction smaller than expected. UK’s first quarter contraction a little worse than initially reported. Consumer spending rebounds in Germany and France. Japan’s TANKAN survey revised FY20 profit, sales forecasts sharply downward. Australian retail sales jump.
The Market Most global equity markets post solid gains on better econ data. Bond yields are little changed as virus worries temper risk-on mood. No big moves in currency markets. Oil jumps, gold touches multi-year high before retreating.