Today is a big day for economic numbers: The Labor department reports that 103,000 new non-farm payroll jobs were added last month, a slightly higher than expected number, while the unemployment rate remained unchanged at 9.1%. The devil is in the details, as always, and the details are not quite as pretty. 322,000 people...
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Looking into the presidential cycle, systemic eurozone issues, good news on the US credit situation, and the wonders of confirmation bias in today's Further Reading...
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On this day in history: Michelangelo began work on his sculpture of David, 1501 Via Abnormal Returns Market breadth is still pointing toward the bears, the UK owes those nasty Conservative euro skeptics a big thanks you and in the surprise of the day, French banks are under pressure. Joshua Brown points out that what was...
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On this day in history: Only woman officer in the Confederate States Army, 1861 So, are high yield bond spreads predicting a recession? Yes, No, Maybe? What about Treasuries? Where do they go? Maybe higher. Maybe not: The trade deficit improved. Goldman sounds excited, however...
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The GDP numbers came out yesterday. For a breakdown, including the inflation component, go here. For the announcement from the BEA go here. The Fed also cut rates by 50bps. Here is the Journal’s story. Reactions: Barry Rithotlz- Q4 GDP: El Stinko! • Consumption slowed to 2% from 2.8% in Q3; I suspect that...
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Can I ask for some applause for this from Crossing Wall Street? I have to agree with Frederic Mishkin of the Fed: I think there is too much focus on what decision will be made about the federal funds rate target at the next FOMC meeting. What is important for pricing most financial assets...
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