US data was firm all around

US data was firm all around, with May income and spending both better than anticipated, and weekly jobless claims remaining constructive . Spending rose 0.9% in May (est. 0.7%), with a small lift to the prior month as well (to 0.1% from flat). 

Real spending was better as well, and on a 3-mth annualized basis is now at 2.9%. That should see forecasters raisingQ2 consumption estimates. May income was in line with expectations (0.5%) but was revised higher for April (to 0.5% from 0.4%).