Bad news this morning on the jobs front
Initial claims for unemployment rose by 12,000 to 465,000 in the week that ended on September 18. Economists had projected that initial claims would come in at 450,000 for the week.
Foreclosures continue to pound home prices downward
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Look for a bargain in HSBC shares on succession turmoil
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...The Fed signals a possible need for more stimulus and gold climbs, the dollar falls, and yields set new lows
The U.S. stock market may have shrugged its shoulders at the Federal Reserve’s statement yesterday afternoon, September 21, but gold, the dollar, and the U.S. bond market sure reacted. Gold climbed to a record high (well, a record if you ignore inflation), the dollar fell against 15 of 16 major currencies, and yields on the two-year Treasury fell to an all-time low as bond prices rallied.
Good luck with that: Brazil tries to stop the rise of the real
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Where does the rally go from here?
Why have stocks rallied so strongly in September? I don’t think it’s got anything to do with currently observable improvement in the economy. I think what we’re seeing is investors—mostly hedge funds—who had bet that the economy was going to sour reversing that bet to get at least neutral on the economy’s prospects over the next six months.
We all tend to look first for fundamental reasons for
Good news on housing this morning–at least in comparison to July’s disaster
New home starts came in solidly above expectations this morning. Building permits climbed from their record low.
That should add to the stock market’s optimism. But you need to keep this news in context: housing starts climbed just 2.2% from August in 2009.
Japan’s intervention to drive down the yen is more dangerous than it looks–remember Smoot-Hawley and the Great Depression?
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Stocks finally take out the top of the trading range
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Get paid while you wait for the oft-delayed Boeing 787 to hit the market
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