Posts from Friday Oct 5 2012

September payrolls 114,000, unemployment rate drops to 7.8%

FINAL UPDATE:

Today’s jobs report was mostly consistent with other recent economic indicators that suggest a steadily, if not impressively, growing US economy. Read more

Markets Live transcript 5 Oct 2012

Live markets commentary from FT.com 

Join Andy Haldane on October 29th

Here’s a talking point: “Socially useful banking.”

As luck would have it, Lisa Pollack has been invited to chair a discussion on this very topic, featuring none other than FT Alphaville favourite, Andy Haldane. (Mr Haldane is the Bank of England’s executive director for financial stability but you knew that.) Read more

The (early) Lunch Wrap

Morgan Stanley chief warns on Wall St pay: Morgan Stanley is preparing to wield its axe again with more job cuts and smaller bonuses planned for next year as the investment bank attempts to boost shareholder returns. James Gorman, chief executive, has said that staff and remuneration would have to be sacrificed as banks cope with lower profits.  Read more

An Indian flash crash

See if you can spot it (chart of the Nifty from Google Finance):

 Read more

Investing in credit markets, with matrices

Where’s an investor to start when it comes to assessing the credit market? Hard-nosed analysis from the top down and/or bottom up? Relying on quantitative factors or more subjective factors?

The credit strategy team at Citi start with four areas of examination that they arrange in a convenient 2×2 matrix when required to explain what they are up to by the outside world: Read more

Further reading

Elsewhere on Friday,

- The high rent version of subprime.

- No, not just more Bernanke bashing.

- The B Team (where “B” is for Branson). Read more

The 6am Cut London

Asian stocks gained overall on Friday, but Japanese markets were lower and the yen rallied after the Bank of Japan held off from adding to stimulus. (Bloomberg)

Samsung profits rose 85%, beating estimates: Samsung Electronics reported a record quarterly operating profit of $7.3bn, nearly double last year’s figure, as strong sales of high-end TVs and Galaxy smartphones more than offset reduced orders for chips and screens from Apple. Read more