Larry's Blog
Trouble in the U.S. Labor Market
October 2, 2009
It’s not hard to imagine U.S. non-farm payroll jobs contracting 138K per month in the fourth quarter, since that would be 47% less than the drop last quarter. If a drop of that size happens, U.S. employment will end the decade at the exact same level as it was in December 1999. There will have […] More
Foreign Exchange Insights and Next Week
Next Week
October 2, 2009
G-7 finance ministers and central bankers meet in Istambul tomorrow, but markets are unsure about whether a new statement will be released from that downgraded group. Those wishing to review results of the last G-7 meeting on April 24 and to see a chronology of all such meetings since October 2001 (right after the Al […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: October 2, 2009
October 2, 2009
It’s striking that the dollar did not climb more sharply this past week as concern mounted that global and U.S. growth prospects may be much weaker than assumed not long ago. Should not a return to risk aversion lend the dollar and yen clear support as such did in the autumn of 2008 and winter […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Risk Averse Mood as Investors Await U.S. Labor Report
October 2, 2009
The dollar continues to show a better tone on doubts about global growth prospects and raft of supportive comments. Notably, Treasury Secretary Geithner reaffirmed yesterday that a “strong dollar is important.” Confusion surrounds tomorrow’s Istambul meeting of G7 finance ministers and central bankers. Maybe this group, which for over twenty years has issued closely watched […] More
