El-Erian Sees Three Major Risks to Surprise May Jobs Report

The video discusses unexpected market data and its implications. Initially, the speaker explores possible reasons for the data anomaly, such as growth or data issues. The market's reaction is analyzed, showing significant movements in stock futures and the yield curve. The economist's perspective highlights inconsistencies in data and potential risks, including a slow recovery, reduced Fed support, and decreased stimulus urgency. The video concludes by emphasizing the need to monitor these risks despite the lack of a clear explanation for the data.

What does the speaker suggest about the nature of the economic recovery?

What concerns are raised regarding the potential impact of the Fed's actions on the market?