presidential election

Every ugly nonfarm payrolls has a silver lining, and sure enough following Friday's disastrous jobs report, global mining and energy companies rallied alongside commodities after the jobs data crushed speculation the Fed would raise interest rates this month.  “The disappointing U.S. jobs report on Friday means that a summer Fed rate hike is off the table,” said Jens Pedersen, a commodities analyst at Danske Bank. “That has reversed the upwards trend in the dollar, supporting commodities on a broader basis.

At least until yesterday's abysmal jobs report, there was - just like last December - a renewed sense of optimism that just because the Fed had gotten surprisingly hawkish in recent weeks (just like it did in November) starting with the FOMC minutes, passing through the speeches of numerous Fed presidents, and culminating with last Friday's Janet Yellen appearance, that the US economy was once again set for a major rebound, leading to a substantial repricing higher in rate hike odds which was also coupled with a boost in risk sentiment.

Submitted by Claire Bernish via TheAntiMedia.org,

By now, we’ve all witnessed selective outrage in real time — a misdeed, tragedy, or other infuriating item blows up national headlines and almost immediately receives backlash in the vein of, ‘well, why isn’t anyone irate about ___ ?’ It’s as if society has developed not only an odd hypocritical corner on the market of concern, but a notable inability to impassion itself with more than one issue at once.

The brief April bounce in US Services economy has died as PMI slipped back to 51.3 as Markit warns "the service sector reported one of the weakest expansions since the recession." This weakness was followed by ISM Services which plunged to its lowest since Feb 2014, crushing the hopes of the April bounce. Employment plunged into contraction and New Orders tumbled, with the surveys pointing to GDP growing at an annualised rate of just 0.7-8% in the second quarter.

Bye bye April bounce!!

In the latest attempt by a state to disenfranchise voters, Ohio residents are finding that if they haven't voted in the past six years, they will be purged from the voting rolls.