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One analyst says payment delays across states are likely, even after the government’s reopening.
Markets Surge as U.S. Government Shutdown Nears End Stock Market Facts The end to the stalemate in the U.S. Senate and growing optimism for an end to the government shutdown have sparked a sharp rally across risk assets, from equities to gold. Many are calling it a relief rally, while others see it as a reaction to expectations of a coming liquidity boost once government operations resume. Regardless of the label, what matters to traders is the reaction to the news. The eventual reopening of the government should not have been a surprise, only the timing was uncertain.…
The record-setting government shutdown appears on course to conclude in a matter of days.
The Pound Sterling (GBP) falls sharply against its major currency peers on Tuesday. The British currency weakens as the United Kingdom (UK) labour market data for the three months ending September has signaled that job market conditions have deteriorated further.The Office for National Statistics (ONS) has reported that employers laid off 22K workers, compared to a fresh addition of 91K recorded in the three months ending in August. This is the first time the overall labour force has seen a reduction in employees since the three months ending in March 2024.Additionally, the ILO Unemployment Rate has accelerated to 5%, faster…
“Once the check clears, the buyer will send a trailer to pick up the car.”
President of the Federal Reserve Bank of San Francisco Mary Daly spoke in an interview with Bloomberg Television on Monday regarding inflation and monetary policy. She mentioned that inflation has remained relatively stable in terms of goods prices. Additionally, she noted that the recent rate cuts have had a positive impact on the labor market, helping to maintain downward pressure on inflation.Key takeawaysInflation has been pretty contained in goods prices. Rate cut so far has supported labor market, keeps downward pressure on inflation. Policy in a good place.Can’t take eyes off inflation. Looking to see if productivity gains continue. If…
“Because of a downturn in my industry, my pay was cut 30%.”
Highlights include China Inflation and Activity Data, UK Jobs, Aussie Jobs, NZ Inflation Forecasts, BoJ SOO UK Jobs MON: BoJ Summary of Opinions (Oct); Norwegian CPI (Oct), EZ Sentix (Nov), Chinese M2 & New Yuan Loans (Oct) TUE: US Veterans’ Day; New Zealand Inflation Forecasts (Q4), UK Unemployment Rate/Wages (Sep), EZ & German ZEW(Nov), US NFIB (Oct), ADPʼs new weekly “preliminary” jobs estimate WED: BoC Minutes (Oct), EIA STEO, OPEC MOMR THU: IEA OMR; UK GDP (Sep/Q3), EZ Industrial Production (Sep), US Cleveland Fed (Oct), New Zealand Manufacturing PMI(Nov) FRI: CNB Announcement; Chinese Activity Data (Oct), German WPI (Oct), Swedish…
“I’m concerned that my parents are going to strike me from any will.”
The Dow Jones Industrial Average (DJIA) took another leg lower on Friday, testing below the 46,800 level for the first time in almost three weeks before barely managing to squeeze back to flat for the day as an AI stock pullback and withering consumer survey results drag down both sides of the investment-consumption equation. Friday would have seen the release of the latest US Nonfarm Payrolls (NFP) jobs report, but the ongoing US government shutdown, which is officially the longest shutdown in US history, is crimping the flow of official data, leaving investors to grapple with volatile private data, and…