Strong May Jobs, Hawkish Not Hike-Ish

The US May employment report exceeded expectations with 172k payroll gains, supporting a 'wait-and-see' approach for the Federal Reserve. Moderate wage growth further supports keeping policy in a holding pattern.

Key Takeaways

• 1.The May employment report was strong, with 172k payroll gains, but wage growth is moderating.
• 2.The Federal Reserve is likely to maintain a 'wait-and-see' stance with a possible reduction in easing bias.

Table of Contents

• Strong May jobs, hawkish not hike-ish
• Global asset class preferences definitions
• Appendix