Posts from Friday Jun 6 2014

On the legalities of running a Markets Live session at Camp Alphaville…

Open question here.

You’ll have seen from the main stage rundown for Camp AV that myself and Bryce are planning to do our regular Markets Live session under canvas on July 2, at the Honourable Artillery Company grounds.

But answer this:

If we share some price-sensitive RAW information — and attendees at Camp AV are able to see (and maybe act on) this info before it is transmitted to the regular Markets Live Rabble — are those attendees on the right or wrong side of the market abuse regime? Read more

May payrolls +217,000, unemployment rate holds at 6.3 per cent

The increase in payrolls wasn’t as impressive as April’s unexpected jump, but it still marked the fourth consecutive month of gains above 200,000 and is further confirmation that the US economy continues to rebound from its abysmal start to the year.

Wage growth remained subdued, with hourly earnings climbing just 0.2 per cent in May. They were 2.1 per cent higher than a year earlier, though it should be noted that wages for production and non-supervisory (non-managerial) workers have grown more quickly, by 2.4 per cent, though that is still below rates historically considered impressive. Read more

Markets Live: Friday, 6th June, 2014

Live markets commentary from 

The (early) Lunch Wrap

Good morning New York,


Breaking down the TLTRO

Here’s the fixed-rate, four year, €400bn central-chunk of Draghi’s swarm attack that is the targeted LTRO, charted by Morgan Stanley’s Huw Van Steenis and team:

 Read more

Let’s nationalise the Green Belt

Or London’s Green Belt, at any rate. For the uninitiated it is the giant girdle of farmland that forces the UK metropolis to maintain the figure it had in its twenties — the 1920s.

So here’s a suggestion that isn’t actually that radical: nationalise bits of it and build on them. Read more

Video: volatility, markets and the Fed

Here’s a short chat with the great Tracy Alloway, finance correspondent and FT Alphaville alum. Read more

Further reading

Elsewhere on Friday,

– London’s buried diggers.

– The Economist vs Cochrane on narrow banks.

– Geithner as an incredibly savvy and well-bred grifter. Not in a good way.

Every coup needs good PR. Read more

The 6am London Cut

Camp Alphaville reminder: Now featuring a mystery convict. Get first hand advice on what actually happens when you go to jail, how to prepare and maybe how to avoid it. (Tickets and details here)

Markets: Asia-Pacific equities climbed toward seven-month highs in reaction to the bold steps announced by the European Central Bank in an effort to stave off deflation and boost the eurozone economy. In the US, the S&P 500 recovered from an early bout of uncertainty to finish up 0.6 per cent at another record high. European equities initially jumped following the ECB announcements but then pared gains. In spite of the ECB’s bold moves, which were in part designed to weaken the euro, the common currency was resilient. (FT’s Global Markets OverviewRead more