Morning Market Tidbits

Bank of America observes a potential narrowing of the 'K-shaped' consumption gap in early June data, likely supported by improved job growth in lower-income sectors. Concurrently, US 2Q GDP tracking has been revised upward to 2.8%.

Key Takeaways

• 1.The gap in card spending between high- and low-income households is narrowing.
• 2.Broadening job growth in blue-collar sectors may be driving the K-shaped recovery narrowing.
• 3.2Q GDP tracking estimate for the US has been upgraded to 2.8%.

Table of Contents

• Key takeaways
• What Matters Today
• A potential narrowing in the K
• likely due to recent broadening in job growth
• US GDP Tracking
• Today's economic calendar
• Disclosures

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