U.S. productivity and unit labor costs

Stampede Out of Risky Assets

December 6, 2018

Japan’s Nikkei fell 1.9% overnight, and share prices are down even more sharply in the United States, Canada, U.K., Germany, France, Spain, China, Hong Kong. 10-year sovereign debt yields have climbed 14 and 10 basis points in Italy and Greece but fallen 8 bps in the U.K., 7 bps in theĀ  U.S., 5 bps in […] More

Dollar Down, Stocks Mostly Up Overseas

November 1, 2018

The dollar fell overnight on this first day of November by 1.5% against the kiwi, 1.3% relative to the Australian dollar, 1.0% vis-a-vis the peso and sterling, 0.7% versus the euro, 0.6% against the Swiss franc, and 0.4% relative to the loonie and yuan. The yen, in contrast, remains unchanged against the dollar. Share prices […] More

Thursday Summary Notes

September 6, 2018

Several U.S. data reports were released. Productivity, which rose 1.1% in 2017, leaped 2.9% in the second quarter of 2018 and 1.3% from a year earlier. Unit labor costs fell 1.0% and were 1.9% higher than in 2Q17. Jobless insurance claims fell by 10K to 203K last week. ADP reported a lower-than-expected 163K estimated rise […] More

Market Disturbances

May 3, 2018

Share prices fell late yesterday in the wake of an FOMC statement that reinforced the possibility of faster, rather than slower, rate hike normalization. Overnight in the Pacific Rim, Japan’s string of Golden Week holidays resumed with Constitution Day, but stocks elsewhere fell 2.6% in Indonesia, 1.4% in Hong Kong, 1.1% in Singapore, 0.6% in […] More

Higher Service-Sector PMI Readings in the United States and Euroland Plus Comments on Other U.S. Statistics Released Today

December 5, 2012

The service-sector purchasing manager indices rose in November by 0.5 points in the United States and 0.7 points in the euro area.  The spread  between those readings narrowed marginally to +8.0 points as a result.  Notably, U.S. services at 54.7 and comfortably above the 50 no-change level connotes non-stalling expansion, whereas Euroland’s 46.7 points to […] More

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