By Chris Becker
Risk markets are still all over the place as the old adage of selling in May and go away may prove prescient again this year. The release of the FOMC minutes have reversed the selloff in US Treasuries, while a late Friday policy change by OPEC via the Saudis has seen the floor pulled out from the sky rocketing oil price. This is proving mixed news for US stocks as we come into the unemployment data on Friday night that every trader is hinging their risk focus on for June.
This week’s data is the highlight of the calendar with US non-farm payrolls on Friday. Before that though we get almost equally important employment and CPI data for Europe. Buckle up!