I understand that as of Friday the
global equity markets have actually increased by 50 percent in terms of
total assets from the money that came out as of February 4. Certainly we
see that this morning – a greater global interest in equities and I do
believe that there is a general idea that our new Fed chair person,
Yellen will likely pull very slowly on further cuts. I think the USD 10
billion that people are expecting will happen. What everyone should be
looking at right now is actually Chinese economy. So, in future
conversations we may be focusing more on other country’s.
Interestingly though we saw lower than expected numbers but we
still saw a small decline in unemployment and we have to look at the
kind of jobs that have been created in the last six months. Most of
those jobs remain relatively local and people working at retail,
unskilled services and so forth. There are still lots of high earners
that are getting hired very slowly.The other thing that is interesting is in terms of unemployment benefits being cutoff and the fact that workers on several levels must state that they are seeking work in order to remain eligible for unemployment benefits. So it kind of exacerbates the unemployment figures because more people are going to say that they are looking for work just because they want to keep their benefits flowing and I am trying not to be cynical about it but that is actually how it works.
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