us economy

No Picture

Modest payrolls, patient Fed

LONDON | By Barclays analysts | We now expect Fed to taper in March 2014. The September payroll report was on the soft side, with nonfarm payrolls rising 148k and private payrolls rising only 126k. These numbers were below our (200k) and consensus (180k) expectations for headline payroll growth. In light of the moderate tone of the September employment report, we have pushed out our expectation for the first Fed tapering in the pace of asset purchases to March 2014 from December 2013.


Dysfunctionality in both sides of the Atlantic

MADRID | By JP Marin Arrese | In the aftermath of the last minute deal brokered in Congress to avoid a devastating US default, Obama warned against turning disagreement into highly disruptive “dysfunctionality”. A rather mild way to portray the utter economic wreckage any further delay in solving the debt ceiling deadlock would have prompted. Faced with a similar challenge in a couple of months, he chose to play down the reckless Republican attitude in the House, praising instead the bipartisan efforts to prevent the worst from happening.



US shutdown

No money to pay the bills

MADRID | By JP Marin Arrese | Markets are largely disregarding the Tea Party zealots’ threat to shut down both the Federal administration and the country’s ability to honour its obligations. They bet a last-ditch attempt to find a compromise, will break the current deadlock.


Playing God with the US economy

WASHINGTON | Two online games posted in two regional Federal Reserve’s banks (San Francisco and Atlanta) enable us to forecast that the extremely accommodative US monetary policy will continue for a long period of time.