The May 29 week starts with the Memorial Day observance on Monday when US debt and equity markets are closed. The four-day workweek has a concentration of economic reports related to the labor market. However, unless and until negotiations about raising the federal debt limit come to a successful conclusion with an increase, the data will be secondary. The focus will be on getting a deal in place prior to when the federal government runs out of borrowing room and money to pay its obligations. The exact deadline isn’t known – and may not be for a few days yet. Thursday, June 1 seems to be the working date. At a guess, ... (full story)