If Confirmed, Strong ADP Report May Undercut GOP Support For Stimulus Package
US firms added 749,000 jobs in September, ADP said Wednesday. That was more than the 649,000 the market was lookingContinue Reading
Category: economy
Chicago PMI Was So Good It Decided To Come Out Early
The Chicago PMI is supposed to come out at 9:45 AM ET, but on Wednesday, it appeared at 8:20 instead,Continue Reading
China PMIs Beat, Ostensibly Bolstering Recovery Case
China’s economic recovery remained largely on track in September, PMI data out Wednesday suggested. The official manufacturing gauge printed 51.5Continue Reading
Ambiguous Ambiguity
When it comes to US equities and a prospective Joe Biden administration, the debate has always centered around the tradeContinue Reading
‘For Some Reason’ America’s Government ‘Just Can’t Get It Done’
The daily rate of positive coronavirus tests hit 3.25% in New York City, Bill de Blasio said Tuesday. That’s theContinue Reading
Europe Risks ‘Deflationary Spiral’ As German Data Raises Alarm
If Christine Lagarde and the ECB were already fretting about deflation risks in the months ahead, they’re likely a bitContinue Reading
1 Million
Markets shifted into a kind of nervous neutral Tuesday as risk appetite waned following Monday’s rousing start to a busyContinue Reading
Much More Money
“Much more”. That’s a rough estimate of what Nancy Pelosi needs to hear from Steve Mnuchin if The White HouseContinue Reading
When It Comes To Huge Corporate Leverage, There Is No Easy Way Out
“Records were shattered on debt, GDP, and leverage”, SocGen’s Stephen Gallagher writes, recapping what will be remembered as one ofContinue Reading
MMT Is From Venus
Analysts and, begrudgingly, mainstream economists, seem to be coming around to the notion that fiscal-monetary “partnerships” (wherein central banks enableContinue Reading
The Most Vexing Quandary Of Them All
The September jobs report won’t be the only thing worth watching for market participants in what promises to be anContinue Reading
2 Americas And The Final Pre-Election Jobs Report
In the new week, markets will navigate top-tier data, geopolitical drama, and domestic discord in the US, as investors continueContinue Reading
Priorities
There’s plenty of time between now and the election for The White House and the GOP-controlled Senate to fill theContinue Reading
Rise In Jobless Claims Adds To Economic Concerns Amid Stimulus Stalemate
870,000 Americans filed for unemployment benefits last week, more than the 840,000 the market was expecting. The previous week’s totalContinue Reading
Into Reverse
It’s not entirely clear “why”, but equities were reasonably well supported Wednesday, as Wall Street looks to build on Tuesday’sContinue Reading