Unemployment

Fannie, Freddie Would Need $100BN Bailout In New Financial Crisis

Fannie Mae and Freddie Mac would need as much as $100 billion in bailout funding in the form of a potential incremental Treasury draw, in the event of a new economic crisis which sends the S&P some 50% lower and results in a failoure of their largest counterparty.

World Stocks Hit Another All-Time High As Crude, Treasurys Drop

World stocks hit a new record high on Monday, as U.S. index futures followed Asian stocks on better-than-expected company earnings and strong US jobs data deflected attention from the rising geopolitical tension over North Korea's nuclear program. European stocks traded near session lows while Crude oil prices fall. The Bloomberg Dollar Spot Index was little changed.

Bernie Sanders Releases The "Teen Guide To Political Revolution"

"This is a generation that is prepared to think big and move this country in a very different direction [socialism?] than we have been traveling for years. It is especially prepared to reject the value system espoused by Donald Trump [capitalism?]..."

In Epic Letter, Elliott's Singer Rages Against Everything From Passive Investing To "Safe Spaces"

"...passive investing is in danger of devouring capitalism.  Government manipulation of securities prices has created the illusion that simply holding stocks and bonds in their index weights and sitting back arms folded is the perfect investment strategy.  What may have been a clever idea in its infancy has grown into a blob which is destructive to the growth-creating and consensus-building prospects of free-market capitalism."

Payrolls Beat: 209K Jobs Added In July, Solid Wage Growth, Unemployment Drops

And now the dovish Fed has another problem: the BLS reports that in July the US added 209K jobs, beating consensus expectations of a 180K print, while June was revised higher to 231K. Average hourly earnings rose 2.5% Y/Y, more than expected, while the unemployment rate dipped back to a cycle low 4.3% as the participation rate rose to 62.9%.

"Payrolls Should Be Boring: Two Numbers Can Make It Exciting"

"Below 130k and with some soft survey indicators softening, I think investors get nervous.... if we get a 250k and an 0.4% (or higher) the effect could be longer lasting. If it looks like boom time in labor markets, it makes sense that there be spillover into wages"

Futures Flat As Payrolls Loom, Dollar Slide Continues

It took stocks only a few minute to "price in" the latest political shock out of Washington, with the Emini trading 0.07% higher this morning on news that Mueller now has a grand jury, while European and Asian shares are little changed as investors await the looming July jobs report.