Banks are looking to lend and the less-than-thrilling May jobs number is not going to change our view of the economy overnight, said Greg Braca, head of corporate and specialty banking at TD Bank (TD - Get Report) .
 
"Banks are lending and access to capital is good," said Braca. "We are not putting too much stock into a single employment report after the string of solid economic data we have been seeing."
 
In his view, the Federal Reserve will continue to be data driven and he still expects to see at least one rate hike later this year. Federal Reserve Chair Janet Yellen said Monday that rates should move up even before the U.S. economy reaches all of the central bank's growth targets.
 
Since monetary-policy adjustments lag developments in the real economy, withdrawal of "accommodation ought to be initiated" early, she said in a speech in Philadelphia. The central bank chief's remarks are a bellwether for traders and businesses gauging the likelihood that the Fed will follow through on a possible rate hike this month or next after a May jobs report showed a sharp deceleration in growth.
 
Yellen is also keeping an eye on the Chinese economy and Braca said "all is not gloom and doom around China consumption".
 
"It's more of a story around China moving into its own larger natural size somewhat due to a consumer driven economy," said Braca. "Investment in infrastructure still will remain quite strong.
 
Braca does see a fair amount of M&A across a broad range of industries still going on outside the mega deals seen in pharma and consumer goods in the past year. He also said real estate is still grounded in fundamentals despite the tremendous rebound in prices from the 2008 collapse.
 
"We are beginning to see some signs of a start to single family development again. Much of the growth has been multi-family and office remains sound," said Braca.