Jobs

The Greek government said PSI went through with a 95.7% participation rate after CACs were activated. Before the CACs, however, that rate was only 85.8%. ISDA’s determinations committee will decide today at 08:00 EST whether a credit event…

This will be a bronze level post. We see a number of data points in today's links that point to economic growth and employment dynamics that vary widely across the developed economies.

Spanish 10-years yields continue to rise above those of Italy, and suggest that Spain may be the next country in the hot seat. Data released today confirms that the contraction in Spanish industrial production is still ongoing, with…

This is a silver level post. Coming up on Friday we get the latest monthly jobs numbers and they are awaited with great anticipation by the market. Of late, the headline numbers have been terrific, but can it last?

The devolution in Spain is particularly troubling. The new fiscal compact had just been signed last week, which includes somewhat more rigorous fiscal rule and enforcement, when Spain's PM Rajoy revealed that this year's deficit would come…

Spain unemployment claims increased 112,269 in February, with total registered unemployed reaching 4.7 mln and the pace of claims picking up. This comes after a pretty ugly Q4 jobless rate of 22.9%, and points to further deterioration…

We (also) do not want black helicopters flying around dropping bags of cash; and we (also) oppose government “pump-priming” demand stimulus—the libertarians and Austrians and even Milton Friedman are correct in their argument that this…

Full employment should be the standard.

That's the headline from my latest talk on RT's Alyona Show. Before I send you to the clip, let me explain my thinking because I don't think I was really clear in the video.

One conclusion from the Fed's actions is that it doesn't care as much about its inflation target as it does about improving the unemployment rate. Thus, it will err on the side of letting inflation rise, if it would improve unemployment.…