Racking up their worst record in 14 years, U.S. employers dumped 180,000 workers during the first two months of this year, the largest number during that two-month stretch since 2009. Wonder why the Silicon Valley Bank went bust? Tech companies accounted for about a third of the jobs erased, according to a new report from......
U.S. nonfarm payrolls added 311,000 more workers last month as the unemployment rate edged up from 3.4 percent to 3.6 percent because more people ages 25 to 54 were actively looking for work, the Bureau of Labor Statistics reported.
The Mexican peso has gained 8.5 percent this year as of last week and was trading at less than 18 to the dollar, making it this year’s top-performing currency, according to the Financial Times.
Analysts had been leaning toward the idea that the U.S. Federal Reserve would raise its key federal funds interest rate a half point at next week’s meeting to tamp down a jobs market that added a surprising 311,000 jobs in February as more people returned to the labor market.
After U.S. Federal Reserve chair Jerome Powell testified before Congress last week, the U.S. yield curve reached its deepest inversion since 1981.
Bond markets began the year betting that the world’s central banks would soon pause their campaigns of interest rate hikes and begin cutting their rates later this year.
As forecast last month, we warned Trends Journal subscribers to prepare for an equity market crash.
Silicon Valley Bank (SVB), a 40-year-old bank specializing in services to tech start-ups, entrepreneurs, and venture capital firms was shut down by federal regulators on 10 March after depositors pulled their money out in an old-style run on the bank.