Charts of the Week
LT Outlook: A Look at Unskilled Labor Wages
September 25, 2019
As of the end of 2018, unskilled labor made just under $21,000 per year.
As of the end of 2018, unskilled labor made just under $21,000 per year.
High U.S. long-term interest rates relative to the developed world put U.S. small capitalization companies at a competitive disadvantage to their large capitalization competitors. This is especially important now that small capitalization companies have record debt-to-equity ratios.
Today's topics include the growing call for fiscal spending, the latest on a possible Trump impeachment, Kocherlakota on the repo market, taking a company public with negative earnings, the trend is your friend, slow home price appreciation and Kashkari on the need for lower rates.
The U.S. has the highest interest rates in the developed world. We review several metrics we have shown in the past, while adding several more to show how unusual this is.
Today's topics include economic data surprising to the upside, Dudley on a standing repo facility, a long-term look at government debt, Trump's odds of impeachment, insider selling on fastest pace since 2000, excess reserves vs. the dollar, the need for fiscal stimulus, taking the temperature of the repo market, concerns over LIBOR's replacement and active vs. passive funds.
Jim Bianco joined Jim Grant last week to talk about the latest in the funding markets.
Today's topics include a note of caution on FOMC pricing, the Fed's repo injections become more permanent, negative rates, the 2020 election, Rosengren's explanation for dissent, data releases beating estimates, stocks vs. bonds, rising corporate debt, Aramco's repair timeline and recession fears.
Daily repo injections, even on a temporary basis, risk retarding the credit process. Alternatively, the Fed could permanently expand its balance sheet and push for reduced regulations.
Today's topics include the Fed's look at balance sheet expansion, T-bill auctions as a sign of repo concern, an update on repatriated cash, Powell's comments on the trade war, surprise indices bounce higher, hedge fund performance, Bullard's explanation wanting for a 50bps cut and asset bubbles.