Markets & Economy

With US economy on the mend, trouble elsewhere helping keep a lid on interest rates

Long-term interest rates staying in new range after surprise drop

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

"Silly season" for newsies is high summer, when there is so little news that "Man Bites Dog!" migrates to page one. In this late-spring week news is plentiful, but a lot of it is silly. Keep sense of humor close by. The straight news aspects are brief, and pleasant. The surprise drop in long-term interest rates two weeks ago has held its new range, and the twin ISM reports for May rose just above the 55 level, the economy trending better than in the first four months of the year. But the level is not taking off: Imports are strong, exports sliding, the combination a GDP minus. Today the monthly clincher, job data: 217,000 net new jobs. Some 63,000 in education and health, neither sector sustainable, one funded by debt, the other by theft. Lefties are thrilled to take presidential credit that we now have as many jobs as at the beginning of the recession. SEVEN years ago. Still, good news. The most important aspect of jobs, by far: income. No significant growth there. Average ho...