Surge in April Jobs Shrouds Weaker Details Investors Should Fear
Pension Partners' Michael Gayed says despite improving labor statistics and a pullback in the Federal Reserve's economic stimulus, Treasury yields continue to drop.
The Labor Department reports the unemployment rate drops to 6.3% in April as the extremely cold weather effects subside. But Pension Partners chief investment strategist Michael Gayed tells TheStreet's Joe Deaux that investors should be worried that wage growth and hours worked was stagnant. Gayed says that despite improving labor statistics and a pullback in the Federal Reserve's economic stimulus, Treasury yields continue to drop. Check out what Gayed says about "Sell in May and go away."
