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Weekly Economic Perspectives: Many Contradictions In The June US Employment Report

Chief Economist

  • The Economy
    Lots of contradictions in the US employment report. Canada’s April GDP contracts less than expected. Robust housing demand in the UK. Consumer spending picks up in Germany and France. Tankan survey suggests positive outlook for Japan’s manufacturing. Housing credit rises in Australia.
  • The Market
    US stocks hit records but they contrast declines elsewhere. Italian bonds outperformed peers. Aussie dollar drops on virus concerns. Oil gains as OPEC+ shows split opinion on increasing supply.