Despite GM strike, October jobs see gains

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Despite a General Motors strike that depressed the month’s numbers, October’s “job report was a solid one which supports [last] week’s Fed decision of a hawkish rate cut,” said NAFCU Chief Economist and Vice President of Research Curt Long. October saw 128,000 jobs added, and the September and August gains were revised up by 44,000 and 51,000 jobs, respectively.“Job gains were above expectations and the service sector is growing, but wage growth remains slow,” Long added. “More positive revisions of past months’ numbers is a good sign…The labor force participation rate rose to its highest point since 2013, but modest wage growth suggests there is further room to run for the labor market.“[Federal Reserve] Chairman [Jerome] Powell indicated this week that there is a high bar to clear for any further interest rate moves, whether easing or tightening. The labor market will continue to improve into 2020, providing a sturdy buffer against recession,” Long concluded. continue reading »last_img read more

​Possibility of Greek exit already factored into portfolio – APG

first_imgAPG, the €400bn asset manager for the Dutch civil service pension fund ABP, has said it has already adjusted its investment portfolio for the consequences of a possible exit of Greece from the euro-zone.Harmen Geers, spokesman for APG, said the asset manager had already underweighted its Italian government bond holdings relative to the benchmark, and that its sovereign debt portfolio for the country was now worth €12bn. He said APG had shifted its strategic government bond allocation in favour of UK and US government paper.But Geers also took pains to emphasise that APG was a long-term investor. “We are not going to change our investments on a daily basis following elections somewhere,” he said. He also declined to speculate on the danger of contagion spreading to Italy or Spain, underlining that the two countries’ fundamentals were “different”. “Currently, Italy is implementing reforms, while Spain has a more stable political climate,” Geers said.APG’s spokesman pointed to the uncertainty still surrounding the new Greek government’s plans, as well as the impact of the ECB’s recently announced bond purchasing programme.At the moment, APG has just €144m and €19m, respectively, in equity and bond holdings in Greece, according to Geers, who stressed that the investments would not be rendered immediately worthless in the event of a “Grexit”.“The new value of our Greek assets would largely depend on the exchange rate of a new currency,” he said.Geers said APG had a system ready to deal with any new currency, as a legacy of its preparations for a possible Greek exit from the euro in 2011.“Such a mechanism was very relevant at the time, when our holdings in Greek assets were much bigger than today,” he said.Currently, APG has €7bn and €800m worth of Spanish and Irish government bonds, respectively, in its portfolio.It has divested all its Portuguese government bonds.last_img read more

Anderson says he is ‘anxious’ about the virus impact on cricket

first_imgENGLAND bowler James Anderson says he is feeling “a bit anxious” because of the impact coronavirus could have on his professional and personal life.A possible rescheduling of the cricket season will be discussed today.The 2020 County Championship is due to begin on April 12, while England are set to play West Indies in a three-Test series starting on June 4.“Cricket and sport is not the be all and end all but it is my livelihood, it’s all I know,” Anderson, 37, said.“There’s a chance we might not even bowl a ball this summer.”The England and Wales Cricket Board has said all options are being looked at, including postponements and playing games behind closed doors.England’s tour of Sri Lanka was called off last week, while England and Nottinghamshire batsman Alex Hales and six Surrey men’s players are all self-isolating.Hampshire chairman Rod Bransgrove said one contingency may be “playing no cricket at all” this season.Anderson, England’s leading wicket-taker in Tests, last played in the second Test against South Africa in January before a rib injury ruled him out of the rest of the series.He had been left out of the squad for England’s cancelled two-Test tour of Sri Lanka in the hope of being fully fit for the start of the summer.“The season is unlikely to start,” Anderson said, speaking to the BBC’s Tailenders podcast.“It’s still a little bit hazy as to what’s going to happen.“I feel a little bit anxious. Just the not knowing is giving me a bit of anxiety; also trying to keep a young family healthy. I am trying to stay calm, follow the guidelines.“My wife’s mum and dad live in Spain so they are in lockdown. They are in the age group where there are concerns. The anxiety is building up in our house because of not knowing what will happen in the next few months.” (BBC Sport)last_img read more