After six years, the US economy got its jobs back

June 6, 2014

“The scariest jobs chart ever”, which Bill McBride at Calculated Risk has been updating month by month for years, is finally ready to be retired.

Brazil’s summer of discontent

June 5, 2014

With just days to go before the World Cup kicks off on June 12, Brazilians are not a very happy bunch.

Litigation risk is increasing for European banks

June 4, 2014

As it becomes more likely that the United States will be fining French bank BNP Paribas around $10 billion for evading US sanctions (over protests from French politicians), Credit Suisse’s (CS) banks research team released an updated estimate for litigation costs for major European banks (pdf). Things are looking less rosy 15 months later. The original estimate, from February 2013, was $58 billion in 38 areas of potential litigation for 10 European banks. CS now thinks these banks will end up paying $104 billion.

Mapping America’s power, state-by-state

June 3, 2014

Yesterday, the Obama administration announced a plan to reduce power plant emissions (from 2005 levels) by 30% by 2030. Reuters‘ Valerie Volvoici and Jeff Mason report that 38% of US power comes from coal, and that “states which rely heavily on coal-fired power plants are thought to have the toughest tasks ahead” in complying with the rule.

Low volatility: worrying trend or new normal?

June 2, 2014

Volatility in financial markets is low, and that concerns New York Fed president William Dudley. Reuters reported he said last week, “I am nervous that people are taking too much comfort in this low-volatility period and as a consequence of that, taking bigger risks.”

from Counterparties:

Chart of the day: Goldman’s shrinking FICC

April 17, 2014

Goldman Sachs released its first-quarter earnings this morning. Reuters' Lauren LaCapra reports that profit was down 11% compared to last year and revenue from fixed income, currency, and commodities (FICC) was down 11% compared to last year. LaCapra writes that "since 2009 - when markets flourished briefly in the aftermath of the financial crisis," Goldman's FICC business has been declining steadily as a portion of its overall revenue.

Case-Shiller Index shows modest growth in home prices

March 26, 2014

The housing recovery continues, albeit modestly. The S&P/Case-Shiller composite index of house prices in 20 metro areas rose 0.8% in January (seasonally adjusted), according to a report released yesterday. Economists had predicted an 0.7% rise. On an year-to-year basis, home prices are 13.2% higher than they were in January 2013.

Why you should start saving for retirement at 25

March 21, 2014

JP Morgan reminds the world this morning that compound interest is a beautiful thing. The bank recently released its 2014 guide to retirement. One of the slides shows the benefits of starting saving early:

America’s job market: still not good enough

March 11, 2014

On Tuesday morning, the most recent Bureau of Labor Statistics Job Openings and Labor Turnover (JOLTs) data showed that the rate of hiring, turnover, and the number of open jobs was basically flat.

Charting the Malaysian airliner disappearance

March 10, 2014

For the third day, search and rescue operations from 10 different countries failed to find any trace of the missing Malaysian plane that disappeared about an hour into a flight to Beijing. Here’s a map of the plane’s last known location: