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US Labor Markets

January 11, 2010
The US labor market recovery continues to be slow, but it is taking place. In H1 2009, the US lost an average of 559k jobs a month and in H2 the average job loss was 134k. The average job loss in Q4 was 69k vs 199k in Q3. Looking ahead, weather-induced job losses should help boost numbers, even here in January. The bulk of the 1.15 mln Census Dept…
US Labor Markets US Labor Markets Reviewed by magonomics on January 11, 2010 Rating: 5
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Re-Orientation: Russia Looks East

January 08, 2010
In 1869 the U.S. completed the transcontinental railroad. With shipping interest in the Atlantic and Pacific Oceans, the partners of Brown Brothers, one of the key investment banks of the period, understood the golden spike as linking Europe and Asia. A little more than a century later, the center of gravity in the world economy has shifted. Since…
Re-Orientation: Russia Looks East Re-Orientation: Russia Looks East Reviewed by magonomics on January 08, 2010 Rating: 5
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Post Job Thoughts

January 08, 2010
No doubt the jobs data disappointed and the market positioning was clearly leaning the wrong way. That the dollar has dropped is not that surprising--we thought that was the risk regardless of the data--but rather the greenback's resiliency the far. The euro has not risen above yesterday's high $1.4450 and this is an important level that n…
Post Job Thoughts Post Job Thoughts Reviewed by magonomics on January 08, 2010 Rating: 5
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China

January 07, 2010
The People's Bank of China snugged policy today by selling 3-month T-bills yielding 4 bp more (1.3684%) than has prevailed since mid-Aug 2009. Nuances are often important. This is not regarded as an equivalent of a rate hike, though next week's sales of benchmark 1-year bills will also likely reflect today's move. In a report out yeste…
China China Reviewed by magonomics on January 07, 2010 Rating: 5
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Canadian Reserves and the Diversification Dilemma

January 06, 2010
Canada reports its international reserves on a weekly basis and today it reported the figures for the week ending Dec 31. The US absorbs a little more than 80% of Canada's exports. While this would seem to offer a prima facia case for not diversifying reserves, Canada has long diversified its reserves.
Canada's reserve assets include dolla…
Canadian Reserves and the Diversification Dilemma Canadian Reserves and the Diversification Dilemma Reviewed by magonomics on January 06, 2010 Rating: 5
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