Global View
The past week underscored an extraordinary divergence between darkening economic data and buoyant financial markets. A U.S. shutdown, which started on Oct. 1, put the data in a no-man’s land – not even the make-or-break September non-farm payrolls report was available¹. But a private-sector
Global View
U.S. stocks did well in September. The S&P 500, Dow, and Nasdaq all went up in value, and the Dow even set a new record. But the background doesn’t look as convincing. Markets may be ahead of fundamentals given weak jobs growth, manufacturing weakness, and stubborn
Global View
Major U.S. indices pushed to fresh record highs this week even as labor market data showed concerning signs of weakness. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all touched new peaks during the same period that initial jobless claims jumped to 263,000, their
Global View
August's labor market report delivered a jarring reality check with employers adding a meager 22,000 jobs, dramatically below expectations of around 77,000. This marks a fundamental shift in the employment landscape as job openings have fallen below the number of unemployed individuals for the first time
Global View
Trump's unprecedented removal of Fed Governor Lisa Cook marks a potential turning point for central bank independence and monetary policy. The president cited alleged mortgage fraud as justification, but the timing suggests political motivations as Trump has repeatedly demanded rate cuts that the Fed has so far resisted.
Global View
Cuts Coming Or...
Global View
Patience
Global View
A Potentially Rapidly Slowing Labor Market
Global View
No Coincidence
Global View
Plus What Happens Next To The Yen
Global View
August.
Global View
Plus, Keeping An Eye On Japan