Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (5997)	5/10/2004 2:45:45 PM
From: Robert Douglas	Read Replies (1) \| Respond to of 116555

Re: what I am missing? You're missing the turn of the tide. Even Merrill's chief economist who's been very negative on the economy the last couple of years has abandoned his conviction that the Fed would stand pat the rest of the year. His comment on the job's report: The breadth of today's payroll report was impressive. Now looking at today’s report, beyond just the stronger-than-expected figure was tremendous breadth, with the diffusion index at 61.7%, now above 60% for the second month in a row and above 50% for four months in a row. Second, and in contrast to March, the April data release was coupled with a strong household survey, which showed a 278,000 increase. And this time around, it was led by full-time, not part-time positions. The back data was also revised higher—by a combined 66,000 in March and February—which is what we typically see when job growth is gaining momentum. This is yet another one of these pro-cyclical developments under way in the labor market.