Archive for October 6th, 2010

ADP Employment Negative In September; Down 39,000

(For September 2010) ADP Employment fell 39,000 in September vs. revised (up 20,000) gain of 10,000 in August. Consensus was at +20,000. Nonfarm payrolls on Friday (rule of thumb) will be negative, probably missing -54.000 consensus. Unemployment will rise. Chart 1. ADP Employment

Challenger Job-Cuts For September At 37,151

(For September 2010) Challenger’s count of layoff announcements was reported at 37,151 in September vs. 34,768 in August. Chart 1. Challenger Job-Cut Report

MBA Mortgage Applications Down 0.2%

(For The Week Ending October 1, 2010) MBA mortgage applications fell 0.2% , prior reading was a decrease of 0.8.%. Refinance index fell 2.5%; Purchase index rose 9.3%. Chart 1. MBA Mortgage Applications

Monthly Strategy – October 2010

This months strategy is a little bit late because your favorite blogger is feeling (a bit) nihilistic in the last weeks. We have had a nice run in September in almost all asset classes. Reasons: recent economic data is not deteriorating as fast as feared and the central bankers determination to extend monetary stimulus is stronger […]


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