Archive for March, 2016
Saturday, March 26th, 2016
Via WSJ:
By Anna Louie Sussman and
Josh Zumbrun
March 25, 2016
56 COMMENTS
Uber drivers aren’t the only “gig” workers rattling the U.S. economy. Older workers, especially women, increasingly are filling in as contractors across a range of traditional industries, from highway inspectors to health aides.
As companies look to shed noncore tasks and government ...
Posted in Uncategorized | Comments Off on Alternative Work
Friday, March 25th, 2016
Via Bloomberg:
Earnings fell in 2015 by most in seven years, figures show
Drop is `bad news' for the economy, IHS's Behravesh says
On the face of it, the latest government update on how the U.S. economy performed in the fourth quarter looked a bit more encouraging. Growth was revised to a 1.4 ...
Posted in Uncategorized | Comments Off on Plunging Profits
Friday, March 25th, 2016
Via Bloomberg:
U.S. Economy Grew 1.4% in Fourth Quarter, Supported by Consumers
Michelle Jamrisko
March 25, 2016 — 8:30 AM EDT
Updated on March 25, 2016 — 8:59 AM EDT
The U.S. economy grew in the fourth quarter at a faster pace than previously estimated, supported by stronger household spending that’s helping cushion the expansion ...
Posted in Uncategorized | Comments Off on GDP
Thursday, March 24th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
The February durable goods orders release was not disastrously weaker than expectations, but it was definitely somewhat softer than I was looking for. The headline gauge fell by 2.8%, in line with expectations, as aircraft and defense bookings both dropped. Excluding those two volatile ...
Posted in Uncategorized | 1 Comment »
Thursday, March 24th, 2016
Via Chris Low at FTN Financial:
Durable goods orders fell 2.8%, about as expected, but the 1.8% drop in nondefense cap-goods ex-aircraft was worse than expected. In addition, these orders were revised lower in January. Add non-defense cap goods ex-air shipments that fell 1.1% in February and were revised to -1.3% ...
Posted in Uncategorized | 1 Comment »
Tuesday, March 22nd, 2016
Via Bloomberg:
Even at 0.3% Japan’s Funds Are Loving 20 Years of Risk in Bonds
2016-03-23 01:26:12.318 GMT
By Kevin Buckland and Shigeki Nozawa
(Bloomberg) -- Japan’s second-biggest bond fund says it
will favor securities with whatever maturity it takes to get any
positive yield. That means 20-year debt.
Mitsubishi UFJ Kokusai Asset Management Co.’s Global
Sovereign Open ...
Posted in Uncategorized | Comments Off on Any Yield is Good Yield, Literally
Tuesday, March 22nd, 2016
Via Bloomberg:
RATES: Shorts Jump to Longs in Latest JPM Survey
2016-03-22 11:30:56.448 GMT
By Robert Elson
(Bloomberg) -- The JPMorgan treasury Client Survey for the
week ended March 21 vs week ended March 14.
* Longs 21 vs 16
* Neutrals 60 vs 59
* Shorts 19 vs 25
* Net longs 2 vs -9
* “The all clients ...
Posted in Uncategorized | Comments Off on JPMorgan Duration Survey: Long
Tuesday, March 22nd, 2016
Via Bloomberg:
Investors should be `underweight' Treasuries, Turnill says
Sumitomo Mitsui Trust sees quickening U.S. inflation
BlackRock Inc., the world’s largest money manager, says investors should pare their Treasury holdings because the U.S. will avoid a recession.
“Economic indicators this week may show the U.S. economy experienced a mild slowdown but is not headed for ...
Posted in Uncategorized | Comments Off on Blackrock: Underweight Treasuries
Tuesday, March 22nd, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h101ca252,1657dbe1,1657dbe2&p1=136122&p2=16d8ee0921440910cdeccb1d5b13c059>
Yesterday afternoon's bounce in oil prices has been sustained through Asian trading, providing a mostly risk-friendly backdrop and helping commodity-sensitive currencies while keeping the dollar under a little downward pressure. Today's data includes the flash PMIs for the Euro area, Germany's IFO, UK CPI, the Markit ...
Posted in Uncategorized | Comments Off on FX Musings
Tuesday, March 22nd, 2016
Via the FT:
Saudi Arabia is prepared to sign up to an oil output freeze next month even without Iran taking part, a senior Opec delegate said, paving a way for a deal among big producers.
Some of the world’s largest oil players will meet in Doha on April 17 to discuss ...
Posted in Uncategorized | Comments Off on Output Freeze?