Posts from Friday Jan 4 2013

Debt ceiling dealing drama

If you were in search of some light weekend reading, we’ve got just the thing (click for pdf):

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One more thought on the payrolls report

Consider all that has either influenced the US economy or at least made big headlines in the last two years — winter accelerations seemingly crashing into spring slowdowns; a debt ceiling debate coinciding with a debt downgrade; a supply chain disruption caused by the Japanese earthquake; commodity and gas price spikes; fiscal drag at both the federal and state levels; a dramatically evolving monetary policy framework; an election and fiscal cliff battle; a perpetual near-disaster in Europe and slowing emerging market growth.

In that light, the following line in today’s payrolls report is worth a quick remark: Read more

Financial punditry reportedly criminalised in Turkey

Bloomberg states that Turkey’s new Capital Markets Law, enacted at the turn of the year, promises harsh punishment for… Read more

December payrolls: +155,000, unemployment rate 7.8 per cent

Very close to estimates and roughly in line with the prior two months. The highlights from the report:

Nonfarm payroll employment rose by 155,000 in December, and the unemployment rate was unchanged at 7.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in health care, food services and drinking places, construction, and manufacturing. Read more

In defence of Latvia

It’s fair to say that Latvia’s post-crisis economic trajectory divides opinion. Some see its ultra-austerity approach as a triumph, others as deeply regressive. But it’s hard to argue with the notion that the country has taken a lot of pain and that things are gradually improving. Read more

Markets Live: Friday, 4th January, 2013

Live markets commentary from FT.com 

The (early) Lunch Wrap

US clears Google’s core search business || Chávez battles ‘severe’ lung infection || Labour eyes pension grab to fund jobs || BMW beats Mercedes and Toyota in the US || Transocean in $1.4bn Gulf settlement || Markets update || A stock exchange crash, in Japan || FOMC minutes || Fairytale of New York — in pari passu, anyway || Operating leases – the old skool of off balance sheet vehicles Read more

A stock exchange crash, in Japan

It’s the first day of dealings in the new-fangled Japan Exchange Group following the slow-motion merger of the previously unlisted Tokyo Stock Exchange and the listed Osaka Securities Exchange, slated to create the world’s third largest bourse. And the first day has proved to be un-clever, with stock number 8697 down 9.42 per cent at the close in Japan… Read more

Further reading

Elsewhere on Friday,

- Explaining the new tell-all Fed.

- And why it triggered a sharp Treasury sell-off.

- Has Ricardian Equivalence killed the Pigou effect? Read more

The London 6am Cut

Japan markets surge after holiday; rest of Asia falls || Fed minutes show division over more asset purchases || FTC ends Google antitrust investigation || Matthew Martoma pleads not guilty || The $1tn platinum coin debate is here Read more