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June 9, 2021

Growth and inflation continue to increase and there are signs of positive developments in the labor market despite the below consensus nonfarm payroll number.

The PMI data for the month of May continued to support the ongoing trend of higher growth and inflation.  The ISM Manufacturing PMI increased 0.5 points to 61.2, the second highest level since May 2004.  The Markit version has a shorter history and increased to a new record of 62.1.  Within the ISM report, new...
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