EFSF closes 2021 funding with โฌ2 billion bond tap sale. The spread was fixed at mid-swaps minus 5 basis points, for a reoffer yield of 0.014%. The bond was first issued in January when it raised โฌ3 billion.
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๐ Macroeconomics
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $71.2 billion in May, up $2.2 billion from $69.1 billion in April, revised.
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U.S. Department of Labor June Update: In June 2021, the unemployment rate was 5.9% and added 850,000 jobs to the economy, including 343,000 jobs in leisure and hospitality. The economy is growing faster than at any time in 40 years BUT is still 9 million
Source: https://www.bls.gov/news.release/empsit.nr0.htm
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Jun21โJun27, 2021, Small Business Pulse Survey estimates that: 35.2% of U.S. retail trade small businesses experienced delays in shipping to customers in the last week. The national average for this statistic was 22.1%.
Source: https://portal.census.gov/pulse/data/
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US Census Bureau Household Pulse Survey: 6.2% of adults are not current on their rent or mortgage payment and have slight or no confidence in making their next payment on time, 32.9% report eviction or foreclosure in the next two months
Source: https://www.census.gov/data-tools/demo/hhp/#/
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U.S. Bureau of Economic Analysis (BEA) announced expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $120.7 billion in 2020, down 45.4 percent from $221.2 billion in 2019.
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U.S. MMFsโ Updated for Reverse Repos: for the end of May, ($479 billion in overnight RRPs). Of them, 80% ($384 billion) were with just five financial institutions.
Fidelity ($195 billion), Goldman Sachs ($60 billion); Morgan Stanley ($44 billion), JP Morgan ($43 billion), and Blackrock ($42 billion)
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