Archive for June 23rd, 2009

U.S. Jobless Rate Headed For Post-1947 High

June 23, 2009

President Obama concedes that the jobless rate will probably crest above 10%.  I believe that such will peak above 11.0%, and that would exceed the previous modern high of 10.8% in November and December of 1982.  A double-dip recession in the early 1980’s ended in November of 1982.  The synchronized timing of the turn in […] More

Currency Markets in the News

European PMI's in June and 2Q

June 23, 2009

Flash PMI readings for the whole euro area, Germany, and France fell below 50 in all instances, connoting a continuing contraction of activity into and including the final month of the first half of 2009. In only one case, French manufacturing, did the reading exceed expectations.  However, five of the nine June readings were higher […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Sell-off Continued of Equities and Commodities

June 23, 2009

Stocks fell 2.8% in Japan, 4.3% in Vietnam, 3.1% in Indonesia and Australia, 2.9% in Hong Kong, 2.6% in South Korea, 1.8% in Singapore, 1.7% in The Philippines, and 2.3% in Taiwan.  But in Europe, where equities fell sharply yesterday, the Dax and Ftse are up by 0.5% and 0.2%.  Emerging markets are 10% under […] More