Up Up Up
• At 8:30 a.m., the Department of Labor tells us just how many jobs we as a nation lost in August. The folks on Wall Street expect America to have lost somewhere around 100,000 jobs, marking a third straight month of labor-market shrinkage. [Calculated Risk]
• Companies that make ATMs and otherwise provide Read More
After rising for two days and enjoying a burning-hot August, the bond market is undergoing a pullback today, thanks in part to a better-than-expected manufacturing report from the Institute for Supply Management and rosy numbers out of China’s manufacturing sector. Contrary to Wall Street superstition, the stock Read More
Up Up Up
A complete stranglehold over an entire industry just isn’t what it used to be.
After lovable billionaire philanthropist and rapacious capitalist warrior Warren Buffett exited the muni-bond insurance game in 2009, fellow billionaire Wilbur Ross has become the sole major investor in insurance of the $2.8 trillion market for American municipal debt. Holding 16 million Read More
As the stock market staged a modest rally today despite scary economic data, investors let a little air out of the high-flying price of long-dated U.S. Treasuries, slowing what had turned into a parabolic rise in government-bond prices.
Adding to the bearish action this afternoon was a report from Morgan Stanley analyst Arnaud Read More