The Wall Street Journal – U.S. Job Growth Rebounds in September U.S. job growth rebounded in September and the jobless rate fell below 6% for the first time since mid-2008, suggesting the labor market is improving faster than previously thought. Nonfarm payrolls grew a seasonally adjusted 248,000 last month, the fastest pace since June, the… Continue reading Employment In Pictures
<Click on chart for larger image> The Financial Times – Dwindling US inflation casts shadow Market expectations of US inflation have slid to levels rarely seen over the past decade, overshadowing the outlook for growth for the world’s largest economy and posing a challenge to central bank policy makers. With Japan and the eurozone pushing… Continue reading More On Inflation Expectations
<Click on chart for larger image> Bloomberg.com – Gold Close to Erasing This Year’s Gains on Rising Rates Gold declined in London, with the metal almost erasing this year’s gains as the outlook for higher U.S. interest rates amid an improving economy curbs demand for the metal. Platinum dropped to a five-year low. Gold fell… Continue reading Gold Falls
<Click on chart for larger image> Bloomberg.com – Gasoline Heading Toward $3 in U.S. as Oil Prices Slide Gasoline pump prices in U.S. are dropping toward $3 a gallon as crude oil slumps, according to the nation’s largest motoring group. Regular gasoline at retail stations slid to $3.328 a gallon on Oct. 1, down 10… Continue reading Gas Prices Tumble
Real Time Economics – Fed’s Dudley Says Those Who See Lax Regulatory Oversight Are Wrong Federal Reserve Bank of New York President William Dudley pushed back on Thursday against criticism his bank’s regulatory activities have fallen well short of the central bank’s ideals. “I completely stand behind the integrity and work of our supervision staff… Continue reading Fed Officials Speak
<Click on chart for larger image> The Wall Street Journal – Russian Ruble Slides to New Lows The Russian ruble fell to fresh record lows against the euro-dollar basket on Friday, prompting central bank intervention to brake the currency’s slide. Pressured by massive capital flight on the back of Western sanctions over the Ukraine crisis,… Continue reading The Russian Ruble
Bloomberg.com – You Know It’s a Tough Market When Ben Bernanke Can’t Refinance Ben S. Bernanke said the mortgage market is so tight that even he is having a hard time refinancing his own home loan. The former Federal Reserve chairman, speaking at a conference in Chicago yesterday, told moderator Mark Zandi of Moody’s Analytics… Continue reading Even Bernanke Has Trouble Refinancing His Home Loan
Bloomberg.com – Humans Lose to Machines in $500 Billion-a-Day Bond Market Human traders are increasingly losing out to machines in the world’s biggest bond market. While investors traditionally negotiated prices for U.S. Treasuries by telephone, they’re increasingly turning to computer-based marketplaces for a range of price quotes from different dealers. A record 48 percent of… Continue reading Computers Are Taking Over The Bond Market
The Wall Street Journal – ECB: Quite Evasive on QE So far, ambiguity about quantitative easing has served the European Central Bank well: the market has done the ECB’s job for it by anticipating a significant loosening of policy. That approach is now wearing thin. ECB President Mario Draghi did provide more technical details on… Continue reading Europe
The Financial Times – Pimco: ‘Bonds are meant to be boring’ What Bill Gross’s exit means for the industry and the company he left behind The portfolio managers and traders at Pimco had a name for the public dressings down and furious emails that many of them received from Bill Gross. They called it “friendly… Continue reading More On Pimco
<Click on chart for larger image> Fortune – Court throws out two suits over Fannie, Freddie dividends A U.S. federal judge on Tuesday threw out two suits from investors in Fannie Mae and Freddie Mac that aimed to stop the transfer of their profits to the U.S. Treasury, in what may set a decisive precedent… Continue reading Fannie & Freddie Lawsuits