Salient to Investors:
Brian Jones at Societe Generale said hiring;s remarkable stability will continue and economic growth will accelerate in half2 – everybody expects Fed tapering in September.
UniCredit and Deutsche Bank Securities say payroll gains averaging 202,000 a month in half1 typically link with GDP growth close to 3 percent, while the Q2 GDP report on July 31 will include comprehensive revisions that could affect data back to 1929 and narrow the difference between employment and growth.
A growing number of economists expect Fed tapering to begin in September.
Ward’s said sales of cars and light trucks were the strongest in June since November 2007.
The S&P/Case-Shiller index of home prices in 20 US cities rose 12.4 percent in May from May 2012, the biggest year-over-year increase since February 2006.
Click here to receive free and immediate email alerts of the latest forecasts.