Weekly Economic & Financial Commentary: Powell Hints at Earlier Taper, but Payroll Miss & Omicron Variant Loom Large
Summary United States: Powell Hints at Earlier Taper, but Payroll Miss & Omicron Variant Loom Large This week was bustling with economic news as tensions mounted surrounding the breakout of the Omicron variant. The changes in tone in Powell’s comments...
The Weekly Bottom Line: Supply Issues Easing, But Omicron Looms
U.S. Highlights The ISM manufacturing index showed signs of easing supply chain conditions. Supplier delivery times shortened while production, employment and new orders indexes all increased. This week’s payrolls report left something to be desired, but a pop in household...
Forward Guidance: Bank of Canada and Omicron Risks in the Spotlight Next Week
Virus concerns and inflation will loom over the final scheduled Bank of Canada policy decision of 2021. So far, economic data has been tracking close to the central bank’s expectations. The 5.4% (annualized) increase in Q3 GDP was almost bang-on...
Crypto investors see looming NFT bubble but tout staying power of the underlying tech
Visitors look at an immersive art installation titled ‘Machine Hallucinations Space: Metaverse’ by Refik Anadol at the Digital Art Fair Asia in Hong Kong, Oct. 3, 2021. Lam Yik | Bloomberg | Getty Images MIAMI BEACH, Fla. – Even if NFTs...
Week Ahead: When “Transitory” is No Longer “Transitory”, RBA, BOC, and Omicron
US Fed Chairman Jerome Powell testified last week in front of the Senate and Banking Committee that he is retiring the word “transitory”. This should have sent shivers through the market. However, the shivers felt may have been from something...
Week Ahead – Volatility to Remain
Omicron and central banks to dominate The past week has been dominated by Omicron news as we all try to piece together the limited information we have and determine what it all means for the coming months. So much is...
America’s chronic labor shortage is ‘primary focus’ for Northrop Grumman in 2022, CEO says
WASHINGTON – Northrop Grumman CEO Kathy Warden said the ongoing labor shortage plaguing the nation was a primary focus for America’s defense business. “When I think about the challenges that we all might face going into next year, the labor...
Nearly 1 million more jobs were created this year than the government first estimated
A construction worker passes a job site at Metropolitan Park, the first phase of new construction of Amazon’s HQ2 development Arlington, Virginia October 13, 2021. Kevin Lamarque | Reuters If you would have believed the Labor Department, August and September...
Stocks making the biggest moves midday: DocuSign, Didi, Nvidia, Tesla and more
A logo of ride-hailing giant Didi Chuxing displayed on a building in Hangzhou in China’s eastern Zhejiang province. STR | AFP | Getty Images Check out the companies making headlines in midday trading. DocuSign — The software stock plunged 40%...
NFP Big Miss! But Does it Matter to Fed?
Non-Farm Payrolls from the US for November were +210,000 vs an expected increase of 550,000. October’s print was revised slightly higher from +531,000 to +546,000. Unemployment number dropped from 4.6% to 4.2% in October. Expectations were for a drop to...
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