Chart of the Day: International Manufacturing Compensation Costs Compared
Great data from the BLS comparing hourly compensation for manufacturing. The second chart looks at the benefits component of the hourly cost.
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Yearly Archives
2011
Dollar Softer As Markets Head Into Holiday Mode
US dollar is softer vs. majors Friday as markets head into holiday mode; sentiment improving a bit in the absence of any major negative euro zone developments. France Q3 GDP revised weaker, Italy confidence lower than expected; euro zone…
News Links: The ECB’s back-door bail-out for Italy, Spain, Belgium, and… France?
News links for 22 December 2011 including stories on the tech world, Europe, and the ECB
Chart of the Day: U.S. Real Earnings through November 2011
Only three positive months in the last year. Lots of pain out there. Be charitable this holiday season, our friends. The return is tremendous.
Market Sentiment Improves After ECB LTRO
US dollar is mixed vs. majors Thursday as market sentiment improving a bit in the wake of ECB’s 3-year LTRO. Merkel advisor Bofinger warned that the euro zone has six months to solve the debt crisis; Greek creditors reportedly balking at…
Chart of the Day: The ECB Balance Sheet
Who says the ECB can't keep up with the Fed. As the euro crisis has caused liquidity for euro zone banks to dry up, the ECB has taken on the intermediation role. In essence, they have taken on the dollar liquidity function that the US money…
Is a eurozone bailout already in play?
Listen: they can go kicking and screaming all they want to but, unless they’re on board to with ending the euro, it seems likely that the rich nations in Northern Europe will end up bailing out their poorer brethren. Whether they call it a…
On the ECB’s Long-Term Refinancing Operation and 2012 macro ideas for investors
The end of year is usually a good time for markets. There was a lot of angst about the European situation a few weeks ago, but there is less of that now because we're hitting year-end (tape painting). Does that mean the credit crisis…
On Liquidity: Watch What the ECB Does, Not What It Says
The key question remains what the banks will do with the newly acquired funds. We suspect that to the extent banks buy sovereign bonds, they will purchase their own sovereign's bonds rather than their neighbor's. More details of the nuances…
Auerback: Solvency Starts with the ECB
I thought I should highlight that Marshall Auerback was on Fox Business yesterday since he writes here occasionally. I wish it were more often! Marshall was on message regarding the euro zone debt crisis. His point: Additional liquidity is…