Reuters – DoubleLine’s Gundlach: risk assets globally face ‘another wave down’ DoubleLine Capital co-founder Jeffrey Gundlach, widely followed for his investment calls, warned after a weak non-farm payrolls report on Friday that the U.S. equity market as well as other risk markets including high-yield “junk” bonds face another round of selling pressure. “The reason the… Continue reading Gundlach Speaks
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Comment Jim Bianco was on CNBC yesterday discussing the Federal Reserve. To view the interviews, click on the images above. To view any of our recent interviews, click here. The first interview above starts with the breaking news that San Francisco President John Williams called the October 28 FOMC meeting a “live” meeting. That meeting… Continue reading Discussing The Federal Reserve And The Bond Market
Comment This morning Jim was on Bloomberg TV discussing the employment report. To view the interviews, click on the image above. To view any of our recent interviews, click here. Jim discussed the payroll report and how it killed the chances for a rate hike in October, as discussed above. The Wall Street Journal –… Continue reading Employment In Pictures
The Wall Street Journal – Janet Yellen Ally Sees Possible Fed Interest-Rate Move Soon Federal Reserve Bank of San Francisco President John Williams said Thursday he sees the central bank raising short-term interest rates this year, perhaps as early as this month, as the economy continues to improve. Mr. Williams, a close ally of Chairwoman… Continue reading Timing The Rate Hike
Federal Reserve Bank of Atlanta – GDPNow The GDPNow model nowcast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2015 is 0.9 percent on October 1, down from 1.8 percent on September 28. The model’s nowcast for the contribution of net exports to third-quarter real GDP growth fell 0.7 percentage… Continue reading GDPNow
<Click on chart for larger image> The Financial Times – US earnings pose test for bullish views Having endured the worst quarterly performance in four years, US equity investors have priced in plenty of bad news for the global heavyweight of share markets. Or have they? Beyond Friday’s latest snapshot of US employment and what… Continue reading A Look At Q3 Earnings
<Click on graphic for larger image> Bloomberg.com – Economists See a Pop in Wages, for Real This Time For those accused of crying wolf about wage growth, Friday might bring an opportunity to say, “I told you so.” Average hourly earnings have barely budged from 2 percent year-over-year gains throughout this six-year expansion. As the… Continue reading In Search Of Wage Growth
<Click on chart for larger image> Comment In the last 65 years, the S&P has finished with a price-only loss through the first three quarters of the year just 17 times (26%). These instances are listed above. The S&P only finished up on the entire year in one of these instances (1970) with a price-only… Continue reading A Look At Q3 Returns
The Wall Street Journal – Senate Panel Scrutinizes Treasury Nominee Over 2012 Fed Leak Probes into the 2012 leak of sensitive Federal Reserve policy information are widening further, with a Senate committee scrutinizing a former Fed official nominated for a position in the Obama administration. The Senate Finance Committee has been looking into whether the… Continue reading Has Senate Panel Found The Person Responsible For Fed Leaks?
Real Time Economics (WSJ Blog) – Myth or Fact? How Some Jobs-Report Analysis Goes Wrong FALSE: The birth-death model is inflating the jobs data. This one is also incorrect, according to Meyer. It’s difficult to capture on a timely basis employment growth generated by new firms and jobs lost because of shuttered businesses, and to… Continue reading Several Myths Of The Jobs Report
CNBC – El-Erian: Emerging markets are ‘completely unhinged’ Emerging markets have come “completely unhinged,” and their struggles will likely drag on growth in the United States and Europe, widely followed market watcher Mohamed El-Erian said Thursday. On CNBC’s “Fast Money: Halftime Report, the Allianz economic advisor said solid economic trends in the U.S. may not… Continue reading Emerging Markets