September 22, 2015
Richmond Fed Region Unexpectedly Bad; New Orders, Backlogs, Workweek Plunge
Read More: Richmond Fed Region Unexpectedly Bad; New Orders, Backlogs, Workweek Plunge
Hard hitting global and local news
Hard hitting global and local news
Read More: Richmond Fed Region Unexpectedly Bad; New Orders, Backlogs, Workweek Plunge
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Read More: Retail Sales Rise Thanks to Autos; Industrial Production Sinks Thanks to Autos; Last Hurrah for Autos?
In a big understatement of Illinois’ problem, a Crain’s Chicago headline reads Illinois IOUs Growing Fast, Could Pass $8.5 Billion by Yearend .
0.035 Baby Steps Plotted Fed fund futures imply a very slow tightening of 3-6 basis points a month. The only exception is January to February of 2017 where the incremental rise is 8 basis points (0.080 percentage points). The Fed does not set policy every month.
Establishment Survey +173K Jobs, Private Jobs +140,000; Unemployment Rate 5.1% Initial Reaction The establishment survey came in a weaker than expected 173,000 job. The Bloomberg Consensus estimate was 223,000 jobs. However, the preceding two months were revised up by 44,000 and wages were strong.
The ECB’s stubborn mule, a Downbeat Draghi, is Ready to Beef Up Quantitative Easing Package . The euro and eurozone government bond yields plunged on Thursday after the ECB president indicated it stood ready to extend the “size, composition and duration†of its €1.1tn bond-buying programme.“We are observing a weakening of the prospects of the Chinese economy,†Mr Draghi said.
View original post here: Third Quarter GDP Model Inches Up to 1.5% on Auto Strength
View original post here: Canada in Recession with Two Consecutive Quarters of Negative Growth