Second Phase Fear Kicking In?
It’s been a bit of a tentative start to the week, with European stocks giving back earlier gains and US futures now pointing a little lower. Investors have been growing in confidence in recent weeks as countries around the world...
Weekly Economic and Financial Commentary: Global Economic Downturn Intensifies
U.S. Review April Employment Plummets April nonfarm payrolls confirmed what we already knew—the labor market is collapsing. By the survey week of April 12, net employment had fallen by 20,500,000 jobs. The unemployment rate jumped 10.3 percentage points to 14.7%,...
The Weekly Bottom Line: Pandemic Wipes Out Nearly All Job Gains Of Past Decade
U.S. Highlights The start of May ushered in a barrage of sour data reports. The list included a plunge in April vehicle sales and service-sector activity falling into deep contractionary territory as indicated by the ISM non-manufacturing index. The most-anticipated...
Forward Guidance: Shifting Focus to the Recovery
Economic numbers are confirming the atrocious-looking decline in economic activity in April – the first full month of social/physical distancing restrictions in a wide swath of advanced economies, including Canada and the US. Yet, as the extent of damage to...
Week Ahead: Coronavirus Continues to Dominate
Aside from cautious reopenings around the world because of the coronavirus, the main economic focus entering last week was the US Non-Farm Payroll data. Although the staggering number of jobs lost was 20,500,000, the markets seemed to take the numbers...
Week Ahead – Reopening Economies Appear to be the Only Trade in Town
It seems financial markets continue to ignore the terrible economic data and focus on hopes that the economy will see a rapid turnaround. With over 85% of companies in the S&P 500 done with earnings season, Wall Street will remain...
Week Ahead – RBNZ May Increase QE; Aussie, UK and US Data to Deepen that Sinking Feeling
There can be no hiding from the awful economic data that is now pouring in from all angles as we move well into the second quarter. Australian jobs, UK Q1 GDP, and US retail sales and inflation numbers will be...
USD Weakens Ahead Of NFP Release
The USD weakened against a number of its counterparts, ahead of the release of the US employment report for April during the American session today. The release is expected to show the grim picture of the US employment market, with...
NFP Preview: How Ugly Can it Get?
“That is a trick of human nature. We get used to things.” – Author R. J. Palacio Picture this scenario: On the first day of 2020, a time traveler appears in your living room with a dire warning. Without specifying...
US Futures Rebounding ahead of Jobless Claims Data, Watch PYPL, BMY, DXCM, DPZ
The S&P 500 Futures are posting a rebound after they closed mixed yesterday, as data showed the biggest reduction in private jobs on record. Later today, the U.S. Labor Department will report Initial Jobless Claims for the week ended May...
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