Stocks & Equities

The US employment number was soft this morning coming in at 169K vs the expected 180K. However the surprise was in the revision lower for the July employment number from 162K orginally printed to only 104K!

 

Drew Zimmerman

Investment & Commodities/Futures Advisor

604-664-2842 – Direct

604 664 2900 – Main

604 664 2666 – Fax

800 810 7022 – Toll Free

dzimmerman@pifinancial.com

 

 

The Growth Mirage

Posted by Scott Minerd @ Guggenheim

on Friday, 6 September 2013 13:34

MacroViewChartofWeek09052013Despite disappointing economic data, there continues to be widespread expectations of a period of stronger economic growth just ahead. This growth mirage draws thirsty investors and increases the likelihood that interest rates will continue rising over the near-term.

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Employment increased by 59,000 in August, mainly in part-time work, and the unemployment rate declined 0.1 percentage points to 7.1%.

Since August 2012, employment has increased 1.4% (+246,000). At the same time, the number of hours worked has grown 1.3%.

 

Drew Zimmerman

Investment & Commodities/Futures Advisor

604-664-2842 – Direct

604 664 2900 – Main

604 664 2666 – Fax

800 810 7022 – Toll Free

dzimmerman@pifinancial.com

2008 financial crisis, ongoing scandals around money laundering, rogue trading, rate manipulation and insider trading, the industry lost the faith of its key constituents – the clients, investing public and other participants that help it function on a day-to-day basis,” says a recent CFA Institute/Edelman Investor Trust Study. 

Only 53 per cent of investors in the United States, United Kingdom, Hong Kong, Canada and Australia have faith in investment firms. What’s more, the investors surveyed around the world said they have less respect for the financial services and banking industries than in other sectors such as telecom, consumer goods and pharmaceuticals.

Canadian company Agrium, already the biggest U.S. retail seller of fertilizer, chemicals and seed, will get 210 stores across Western Canada from Glencore in the deal approved by Canada’s Competition Bureau.