Archive for December 4th, 2009

Correlation Divergence

Well I must admit that I don’t have a clue what’s happening in the markets now. The markets opened positive on large positive surprise in non-farm payrolls and in mid of trading  everything reversed. Three reasons come to my mind: first is a deeper look in unemployment numbers; the second one would be the new […]

Nonfarm Payrolls Edge Lower

Nonfarm Payrolls for November came out at -11.000 vs. -100.000 consensus and – 190.000 in September. A clear improvement and a positive surprise for the markets. Chart 1. Non-farm Payrolls Monthly and Yearly Change The unemployment edged lower to 10.0% from 10.2% in December. Consensus was at 10.2%. Chart 2. Civilian Unemployment Rate The equity […]


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