The Fed, rates and money politics: The week in markets

It's odd to have long-term rates falling while the Fed is in the early stages of a long, normalizing increase

The biggest deal always is the monthly, first-Friday report of the job market in prior months. In theory, May was a downside miss, “only” 138,000 jobs added and a downward revision to April versus the consensus forecast of 185,000 and ADP’s monthly wild-swing estimate (ADP the payroll processor) of 253,000.