The four-week average for jobless claims has fallen to new cyclical lows. The claims data may overstate the potential drop in the U3 rate because of the smaller decline in long-term unemployment….
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The decline in FX reserves has slowed. Currency effects may have played a role, but there are signs that capital controls are beginning to work: December saw the smallest level…
The BoJ was forced into action on Friday as yields on 10-year JGBs spiked. An “unlimited” purchase offer pushed yields lower after a disappointing Rinban. The central bank has not…
Friday’s dip in the y/y for average hourly earnings to 2.5% and the strong payrolls, combined with the promise to “cut a lot out of Dodd-Frank”, are all bullish for…
François Fillon’s campaign is unravelling. Emmanuel Macron has closed the gap with the Republican candidate after damaging fraud allegations. Government bond spreads are widening across Europe reflecting the political uncertainty….
Mr Trump’s protectionist rhetoric unnerved stock markets on Monday. However, the reaction in the US Treasury and JGB markets was telling: yields on 10-year JGBs and US Treasuries both finished…
Tough new policies on immigration have cast a cloud over the US technology sector, a big contributor to economic growth in 2016. Mr Trump has backtracked on green cards. However, his restrictions…
