Buyers are not showing much interest as the month of June gets underway
despite two better-than-expected economic reports.Just reported, the
May ISM Index, a national manufacturing survey, rose 2.1% to 49.6,
topping the consensus estimate of 48.5. The index suggests a slight
contraction in United States manufacturing activity, as the number
falls short of 50.
Separately, April construction spending fell 0.4% month-over-month,
which is modestly better than the expected decline of 0.6%. March
construction spending was revised higher to a decline of 0.6% from a
decline of 1.1%.