Newsclips
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July 8, 2013
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The Wall Street Journal – U.S. Adds 195,000 Jobs in June; Jobless Rate Steady at 7.6% U.S. employers added 195,000 jobs in June, a sign of the solid improvements in the labor market that the Federal Reserve has said it is looking for before it begins to wind down its bond-buying program. The stronger job… Continue reading Employment In Pictures
Comment Far too often economic analysis and market reactions are based purely off an instantaneous emotional reaction to the release of data. That was the case this morning when the payroll report was better than expected and the previous months were revised higher. Pundits instantly called the number great and many were acting like Bernanke… Continue reading Today’s Payroll Report In Perspective
The Financial Times – Central banks send clear signal on interest rates The European Central Bank and the Bank of England both took the unorthodox step of offering explicit guidance on low future interest rates on Thursday, in what amounted to a transatlantic rejoinder to hints of tightening by the US Federal Reserve. Dropping a… Continue reading Draghi Talks Dovish
The Wall Street Journal – Portugal in Crisis Austerity hits a dead end in Lisbon A political crisis in Lisbon sent European markets into a tailspin Wednesday, with Portuguese government debt particularly hard hit. The country’s 10-year bond yields nearly hit 8%, up from 6.5%, following this week’s resignations of the foreign and finance ministers.… Continue reading Portugal
Bloomberg.com – China Suspends PMI Details in New Hurdle for Analysis: Economy China suspended the release of industry-specific data from a monthly survey of manufacturing purchasing managers, … “We now have 3,000 samples in the survey, and from a technical point of view, time is very limited — there are many industries, you know,” Cai… Continue reading China Hides Data
The Wall Street Journal – Rise in Steel Prices Alarms Buyers Steel prices in the U.S. are rising and not necessarily because the market is improving. A trio of unforeseen events have unexpectedly helped boost prices 10% in recent weeks to their highest levels since early January. A blast furnace outage in Ohio, along with… Continue reading Rising Steel Prices
The Independent (UK) – Ben Chu: The hedge fund con explained In The Independent’s Outlook column this morning I described the hedge fund industry as a “con”. Those are strong words and require something to back them up. My analysis is based on Simon Lack’s The Hedge Fund Mirage. The crucial point, which I referred… Continue reading Are Hedge Funds A Con?
The Fiscal Times – What the Hell Happened to Jon Corzine? The remarkable rise and spectacular fall of a Wall Street and Washington titan Jon Corzine has had almost as many next acts as a six-hour opera by Wagner, but this time it appears as if he is finally about to take his curtain call… Continue reading Jon Corzine
The Wall Street Journal – Egypt Girds for Muslim Brotherhood Protests Brotherhood Has Urged Peaceful Protests But Violence Is Feared Egypt’s army declared a state of emergency in Suez and southern Sinai on Friday ahead of mass protests to be staged by the Muslim Brotherhood, with the powerful organization’s supporters set to demonstrate against the… Continue reading Egypt Update
Value Walk – CNBC Quarterly Ratings Fall To Lowest Level Since 1994 Many of CNBC’s leading programs have seen a downward spiral in terms of ratings. The quarterly data show that Mad Money, Squawk on the Street and the Kudlow Report have posted their worst rated quarter ever CNBC continues to lose ratings. The latest… Continue reading CNBC’s Bear Market Continues
The New York Daily News – Ex-NYU professor arrested for stalking Citigroup’s chief economist Heleen Mees had been in a relationship with Citigroup’s Willem Buiter, but when things soured, the Dutch economist and one-time NYU professor began sending him a barrage of messages through emails, which ranged from racy, to X-rated, to demented. Mees was… Continue reading Fatal Attraction