Afternoon Coffee: Egg Supply Shortage Expected, Senate Passes Asian Trade Bill

Food companies are expecting a supply shortage of eggs, as the avian blu infects more hens. McDonald’s, Panera and General Mills are among the companies looking for alternative egg suppliers.

The US Senate passed trade legislation today, which would give President Barack Obama power to “fast track” trade negotiating authority for trades in the Trans-Pacific region.

Manufacturing output fell in May, according to Markit’s Flash US Manufacturing Purchasing Managers’ Index, which hit 53.8. The index is at a 16-month low with May experiencing the slowest rise in new orders since January 2014.

The Chicago Fed’s national activity index also pointed to a bleak economic outlook. The index showed the economy performed “below trend” in April reaching -0.15.


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