- U.S. Initial Jobless Claims fall to three-month Low to 601,000 in the week ended May 2 (-34,000) confirming yesterday's ADP employment report; let's see the payroll report tomorrow.
- U.S. Productivity Rises 0.8%; Labor Costs Gain 3.3%.
- ECB cuts rate 0.25% to 1% and and said it would buy euro-denominated bonds (EUR 60 billion) as well as offer longer-term credit to banks. The BoE keeps rates at 0.5% but increased its bond-buying plan by £50 billion ($75.71 billion) to £125 billion.
- GM posts $6bn loss on sales down 47% (!) during Q1 and a cash burn of $10.2 billion. This brings total losses since 2004 to $88 billion; one may wonder how it survived for so long... Anyway bankruptcy is getting closer by the day with an additional $2.6 billion of tax payer money needed for May.
Subscribe
Markets & Beyond is a blog about financial markets, the economy, politics and anything else. The Editor spent 20 years in investment banking in the City of London and has been in the private banking industry since 2002 advising and managing money for high net worth clients.
All contents are copyright of the author; Markets & Beyond is a trademark of the author. Any material on this blog can be quoted without the prior consent of the author: in all cases the name of the author must be mentioned and a link to this blog provided.
Contact: marketsandbeyond@gmail.com
Markets & Beyond RSS feed
Posts
Comments