Is the labor market continuing to come to a grinding halt? It might be early to declare this until the August jobs report is released, but the JOLTS job openings offered a hint of what to expect. In July, the number of employment vacancies fell below nine million for the first time since March 2021 […]
Money
U.S. private jobs overcounted by 358,000, government payrolls revised higher
The U.S. labor market is seeing quite an inversion. Under President Joe Biden this year, the government has become the No. 1 job creator, But here is the deal: government payrolls were revised higher again. U.S. private jobs were revised down by 358,000 this year. Government jobs were revised higher by 52,000. Ouch.
BRICS bank plans to issue first rupee bond in October
The BRICS’ (Brazil, Russia, India, China, and South Africa) New Development Bank intends to issue its first rupee bond in October, the latest stage in the global de-dollarization campaign. Before the bloc’s annual summit in Johannesburg, the NDB confirmed that a rupee-denominated bond would be issued in October, one week after issuing a rand bond. […]
China, Saudi Arabia cut U.S. government debt holdings in June: Treasury
In another signal that China and Saudi Arabia are trying to reduce their exposure to the U.S. economy, the two countries reduced their holdings of Treasury securities. In other words, Beijing and Riyadh decreased their holdings of U.S. government debt in June. According to the Treasury Department, China dumped $11 billion in Treasury securities, down […]
Tomorrow’s CPI data should see an expected jump; August inflation forecast to witness large increase
Tomorrow should be an interesting time. It could be the start of a renewed rise in the inflation rate. After 12 consecutive months of a slowdown in the growth of inflation, the American people could see a jump. According to the Federal Reserve Bank of Cleveland’s Inflation Nowcasting model, the annual consumer price index (CPI) […]