Global Macro Perspectives
*** Wall Street Journal: Barroso: Euro Crisis No Longer Only in Periphery ***
*** The Big Picture: In gold terms, S&P’s back to Mar ’09 low ***
*** Macro Man: Now What? ***
*** FT Alphaville: Keep calm and carry on [updated] ***
*** FT Alphaville: There are many ways to impair a Greek bond ***
*** FT Alphaville: Il sorpasso ***
*** FT Alphaville: The cash killing BNY Mellon: details ***
Nonfarm payrolls rose 117.000 in July; Consensus was at 75.000; June reading was an increase of 18.000. The unemployment was reported at 9.1% vs. prior reading and consensus of 9.2%.
Private payrolls were up 154.000 vs. 108.000 consensus and 57.000 reading in March.
By all means this is not a strong report, but is much, much better than feared.
U.S. railroads originated 292,812 carloads, down 2.5% compared with the same week in 2010 and down 5.1% compared with 5-year average. Week over week change was +0.3%.
Working gas in storage rose 44 Bcf from previous week.
Storage level is 190 Bcf lower than same time year ago and bellow 5-year average.