Goldman, Eurodollar Dealers, And The (Possible) Consequences of Actual Liquidity
Goldman Sachs is cutting back more in its staff than previously announced. Though not yet confirmed, Bloomberg writes that the reductions in the fixed income business are being increased. After posting absolutely horrible results for [...]
Nothing Has Changed Though Payrolls Show Up Ugly This Month
Wall Street is predictably overreacting to the unpleasant payroll report. It is understandable in a way since, as noted yesterday, the Establishment Survey and the unemployment rate are all that is left to suggest the economy [...]
Comprehensive Doubts
The underlying fundamentals of oil and energy remain highly negative. Oil prices have been supported by sentiment for some time now, but that hasn’t changed much from between under $30 to over $40 at the [...]
Chart Of The Week: Working More, Getting Less
This week's chart was produced by our own Jeff Snider just a little while ago for this post. As Jeff points out last quarter saw another drop in US worker productivity. Since there are only [...]
A Small Adjustment To Gain Needed Labor Market Sense
The BLS released its updated productivity estimates showing that Q1 2016 was negative for the second straight quarter and the fourth of the past six. Such negative and flat productivity in any real sense doesn’t [...]
It Was The Sunset, Not the Sunrise
Factory orders declined again in March 2016, which was entirely expected on calendar effects alone. As leap year fades into historical memory, economic accounts are returning to their now normal slow, steady contraction. Year-over-year, factory [...]
Proving Yet Again Global Weakness Starts Here
When commenting on any weakness in the US economy, it has become common even shorthand for any outlet or author to affix the conventional explanation. Suspiciously low growth rates and far too many outright contractions, [...]
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