Economic Review 12 June

On a shortened Labor Day week, economic data included continued rises in both consumer and producer price inflation, driven by August’s spikes in fuel prices. Existing home sales declined, as did consumer sentiment.

Equities fell across the board globally last week, due to geopolitical tensions, resulting inflation, and higher yields. Bonds pulled back to the same spike in interest rates. Commodities were mixed, with another sharp rise in oil prices, and weakness elsewhere.

Economic data included the employment situation report showing stronger payroll growth than expected, as well as gains in job openings and ISM services, which offset a decline in ISM manufacturing.

Equities were flattish on the week in the U.S., coupled with mixed results in foreign markets. Bonds were down for the most part, as yields rose for a variety of reasons. Commodities gained, along with another spike in the price of crude oil.