Written by Gary
Big news this morning is the U.S. private employers, ADP, only added 189,000 jobs last month, way below economists" expectations and the lowest since January 2014, a report by a payrolls processor showed on this morning. Oil immediately spiked and the U.S. Dollar fell dramatically, but has since started to move back to where they were.
The markets are slated to open fractionally lower this morning as investors are concerned to the Iran "deal" in progress and the possible "Grexit".
Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
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by Marco Del Negro and Christopher A. Sims - Liberty Street Economics, Federal Reserve Bank of San Francisco
The monetary base in the United States, defined as currency plus bank reserves, grew from about $800 billion in 2008 to $2 trillion in 2012, and to roughly $4 trillion at the end of 2014 (see chart below). Some commentators have viewed this increase in the monetary base as a sure harbinger of inflation. For example, one economist wrote that this "unprecedented expansion of the money supply could make the "70s look benign." These predictions of inflation rest on the monetarist argument that nominal income is proportional to the money supply. The fact that the money supply has expanded rapidly while real income has grown very modestly means that sooner or later prices will have to catch up. Most academic economists (from Cochrane to Krugman and Mankiw) disagree.
Infographic Of The Day: Europe's IXV Space Plane
The European Space Agency's unmanned IXV (Intermediate eXperimental Vehicle) is a test vehicle for trying out technologies that could be used in future low-Earth-orbit spacecraft.
FOREX NEWS by DailyForex
Greece failed to reach an initial deal with the European Union and the IMF to unlock aid after the creditors dismissed a package of reforms from Athens as ideas rather than a concrete plan, officials said on Tuesday.
As the end of this quarter draws to a close, the common currency Euro is poised to record its single worst quarter ever.
Confidence in the euro zone’s economy rose for a fourth straight month in March to its highest since July 2011, a European Commission survey showed on Monday, suggesting the weak euro and lower oil prices are spurring the recovery.
It is always easy to be wise after the event. Bank regulators should have been more wary of the risks to the banking sector through dubious loans issued to sub-prime lenders and the folly of “securitising” such loans in blocks and believing that that would make an investment grade product.
In spite of the recent Federal Reserve policy decision which was surprisingly and decidedly dovish, the head of the US central bank, Janet Yellen, confirmed over the weekend that the Fed could begin gradually raising interest rates later in the year.
by Peter Bloom, The Conversation
After several months of tense and often antagonistic negotiations, Greece and its creditors appear to be at a stalemate. In order to receive a further bail-out funds, the Syriza government has proposed a set of reforms that in the view of Germany, the ECB and the IMF "don"t make the grade".
Investing.com Technical Analysis (as of Tue, 31 March 2015 05:00pm EST)
by Investing.com Staff, Investing.com
Below, technical overviews and analysis for key stock indices, commodities and currency pairs, based on market activity at the close of the 31 March 2015 U.S. session. This information is a comprehensive summary derived from simple and exponential moving averages along with key technical indicators shown for specific time intervals.
31Mar2015 Market Close: Oil Slides, DOW Closed Down 200 Points, Iran Deal Deadline Tonight, Generall
31Mar2015 Market Update: Markets Remain Down Oil Trend Fractionally Higher, Iran Still On Minds Of I
31Mar2015 Pre-Market Commentary: Iran Deal Concerning Investors As Greece Lenders Fail To Reach Deal
Written by Steven Hansen
ADP reported non-farm private jobs growth at 189,000. Although disappointing and below forecasts - the year-over-year rates of growth is statistically the same as last month. The rolling averages of year-over-year jobs growth remain solid.