The Federal Reserve recently put an end to discussions about raising interest rates. This decision comes as job reports reveal a softening trend, with job openings hitting a 3-year low. Despite persistent unemployment trends, home prices continue to rise. The current Fed Funds rate remains steady, holding at a range of 5.25% to 5.5%. According to the Bureau of Labor Statistics (BLS), only 175,000 jobs were created in April, falling short of the estimated 243,000. In addition, the Job Openings Labor Turnover Survey showed a contraction in job openings, with the number dropping to 8.488 million in March from 8.813 million in February.
Looking ahead, market analysts are anticipating the release of the Case Shiller Home Price Index data early next week, following the update on jobless claims. Furthermore, there will be close monitoring of the 10-year note and 30-year bond auctions to gauge the level of demand in this economic environment. This shift in monetary policy and recent economic indicators will continue to be a focal point for investors and policymakers alike.
EGCASHFLOW 