6 October 2014



Today’s Issue Cluster: US Labor

Currencies – Discord emerges in Japan over yen’s accelerated slide
E-Cigs – Loose laws may be hard to tighten
Defense – Asia arms up to counter growing Chinese might


MAJOR DATA POINTS

Germany – Aug: Factories See Sharp Drop in Orders; -5.7% from +4.9% / WSJ / B * *


MARKETS

Currencies – Sluggish Global Trade Growth Is Tempting Officials to Devalue WSJ *

Currencies – Pressure on Argentina’s peso sows seeds for deeper downturn FT *

Currencies – Discord emerges in Japan over yen’s accelerated slide N *

Currencies – Rouble touches record low versus dollar FT / WSJ

Currencies – Putin Reserve Rubles Vanish in Crimea Grab B / cfr *


ECONOMICS



POLITICS & FISCAL POLICY

Brazil – Rousseff to face pro-business Neves in runoff R / WSJ / FT / B / NYT *


MONETARY POLICY

Fed – Stagnant Wages Support Rate Patience Even With Job Gains B

Fed – Jobless Rate Falls Into Fed Forecast Range wsj *

Fed – Has been far too optimistic on the recovery / r *

Fed – Rate Policies Aid Foreign Banks WSJ * *


FINANCE



REAL ESTATE



SERVICES

E-Cigs – Loose laws may be hard to tighten AP

E-Cigs – Dire Warnings by Big Tobacco NYT *


MANUFACTURING

Defense – German ministry and arms industry come under fire FT

Defense – Berlin Hesitant to Boost Military Spending WSJ / AP *

Defense – UK spending set for tough decisions FT *

Defense – Asia arms up to counter growing Chinese might AP

Defense – Russia Overtakes US in Nuclear Warhead Deployment MT *


TECH

Internet of Things – Tech and telecoms groups fight to dominate FT * * * *


TRADE & TRANSPORTATION



COMMODITIES

Supercycle – Emerging markets adapt to ‘new normal’ FT * *


ENERGY & ENVIRONMENT



LABOR & EDUCATION

US – Job Growth Rebounds, but Wages Lag WSJ / FT / NYT / AP / R / B / AP * *

US – Economy added 248k jobs / r *

US – Unemployment fell to six-year low / r *

US – UE duration, discouraged workers, participation rate all fell / r *

US – Unemployment by race and ethnicity / r *

US – Jobs Report in Charts / wsj * * * * * * * * * * *

US – Two charts / q * *

US – Drop in Labor Force Hard to Pin on Discouraged Workers B *

US – Payrolls Effectively Up by About 600k as Hours Climb B *

US – Jobs Report Highlights the Wage Growth Puzzle nyt *

US – More Job Gains Than Dropouts wsj *

US – One in Five Workers Laid Off in Last Five Years, Report Says wsj *

US – Job Woes Linger in 29 States in Uneven Recovery B *

US – Los Angeles Minimum-Wage Boost Seen as Policy Test WSJ *

US – Labor under-utilisation ft *

US – German-Style Training for American Factory Workers WSJ

US – About That Manufacturing Skills Gap: It’s Complicated IBD

US – Skills Gap Bumps Up Against Vocational Taboo WSJ *


HEALTH



ENDNOTE

A mall straddles city boundaries and minimum wage requirements npr *


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