US Markit Manufacturing PMI decreases to 51.9 in May from 52.1 in Apr

Kit Juckes, Global head of Currency Strategy at Societe Generale recalls that between 1991 and 2006 (i.e., avoiding the 1980s and the madness pre and post-08) US nominal GDP growth averaged 5.4%, 5yr Note yields averaged 5.2% and 2yr Note yields averaged 4.7%.