Thursday, October 07, 2010

Initial Jobless Claims: Survey 455 Actual 445 Prior 453 Revised 456

Little Interest in the Long Term – Over the past four years, investors have increasingly demand-
ed interest rate contracts with maturities of shorter duration. – Bloomberg

Unemployment, as measured by Gallup without seasonal adjustment, increased to 10.1% in

September -- up sharply from 9.3% in August and 8.9% in July. Much of this increase came during the
second half of the month and therefore is unlikely to be picked up in the government's unemployment
report on Friday. – Gallup
 Top Wall Street CEOs were in D.C. yesterday to meet privately with top regulators at the Willard
hotel. Much of the discussion centered on Dodd-Frank implementation. The meeting was closed to press,
but sources say senior Wall St CEOs expressed relief that they at least now know what the new rules of
the road are going to be (even if they don't always agree with them). Politico
Greenspan in the FT – “Fear undermines America’s Recovery” The continuance of uncertainty
since the recovery took hold is attributed to the widespread major restructuring of our financial system
and the burgeoning federal deficit – FT
Change in Private Payrolls due out tomorrow. Survey: 75 Prior: 67

Private Payrolls - Estimates vs Actual

Avg Estimate from UBS, Goldman & JPM Actual

250

200

150

100

50

0
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