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Links: 2010-05-07 Jobs reports extremely bullish in North America
The Employment Situation Survey was very bullish. We saw non-farm payrolls up 290,000 and a net upward revision of prior month of 121,000. Moreover, there was an over 230K improvement in both private sector jobs and job gains ex.…
BBH CurrencyView: High Anxiety (Remains)
Highlights The US dollar is broadly mixed in still volatile market conditions. The euro has been boosted by indications of a G7 conference call. Sterling has been punished in the wake of the indecisive electoral outcome. …
Mood Music: Tom Petty – Free Fallin’ and Won’t Back Down
I'm off now. But I thought I'd provide two Tom Petty songs for you to listen to that reflect the mood after the crash earlier today (see What caused the crash? for the theories circulating about its genesis). Tonight, we'll see how Asian…
BBH CurrencyView: Greek Jitters Hit All Markets, Boost Dollar And Yen
Highlights The US dollar was stronger vs. the majors as pessimism with regards to Greece intensified yet again after Trichet and ECB offered little in the way of euro support (see below). Risk off trading picked too late in the day…
The ECB Sticks To Its Playbook …
It thus appears that those hoping that that the market turmoil would be confined to Europe were proven wrong today as global stocks entered a veritable rout most likely triggered by the lack of any sort of meaningful action by part of the…
What caused the crash?
Here's what I am hearing. There was a "fat finger" that caused someone to execute a large order for PG, a Dow component at a price in the high 30s when it was trading above 60. Another word out is that someone entered a $16…
The market is crashing right now; Greece is Lehman 2.0
Apparently, Greece isn't Europe's Bear Stearns. It's Europe's Lehman. Take cover.
MMT: Yes Virginia, There is a Difference Between Greece and the US
Marshall Auerback here with a post which I originally published at New Deal 2.0. This post on deficits in fiat currency regimes is the second in a series of posts on Modern Monetary Theory. Many market analysts, commentators and economists…
Links: 2010-05-06 Heading toward a Greek default
If you would like to receive our links in real-time please follow me at @edwardnh or go to our site’s News Feed. Greece Greek Default Already Decided - The Source - WSJ It's Not About Greece Any More « The Baseline Scenario…
Hugh Hendry talking Greek and euro banker bailout on CrossTalk
Last week I was on RTTV's CrossTalk talking about the Goldman Sachs Senate hearings with two other guests. This week, on the latest edition of CrossTalk, Peter Lavelle asks his guests who is being bailed out: Greece or the bankers. The…