Economic Week in Review: Half-speed ahead
June 01, 2012
The U.S. recovery has slowed more sharply than first thought. The spring job market has been much weaker than expected, and new figures indicate that economic growth earlier this year slowed more than originally reported. Financial markets slumped, and U.S. Treasury yields sank to record lows. For the week ended June 1, the S&P 500 Index fell 3% to 1,278 (for a year-to-date total return—including price change plus dividends—of about 2.6%). The yield on the 10-year U.S. Treasury note fell 28 basis points to 1.47% (for a year-to-date decline of 42 basis points).
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