Day: 29 May 2020

After 20 Million Jobs Drop, What’s Next?

The US April data were, in a word, horrible. There was no silver lining, except that it was, hopefully, the worst we will see and that some relative recovery began over the last few weeks. The May business conditions data already released continued their downward trend, but the pace of contraction was, in the main, […]

April Income Lifted by Stimulus, But No Place to Spend

Personal income surged in April on the large infusion of government stimulus payments. The only problem was that there were fewer places to spend it. Personal income rose by 10.5% in April, well above the 6.0% decline expected that did not consider the inclusion of the transfer payments. Current transfer receipts rose by $3.0 trillion […]

Banks Fail to Have Manipulation Hearing Thrown Out

A class action brought against 16 banks and their affiliates for alleged manipulation of FX markets will be allowed to go ahead after a New York judge largely ruled in the plaintiffs’ favour by throwing out a motion to dismiss brought by the defendants. The banks did, however, have the appeal to have the motion […]

The Times, They Are A-Changin’

‘Back to normal’ – three simple words, and a world of meaning. For those in the UK, Monday, 23rd March 2020 marked the point at which everyone’s life changed. Lockdown has had, amongst many other effects, a profound impact on how and where we work and the very nature of the job we do. The […]