July jobs should show steady hiring after crazy May and June reports

on , from cnbc.com

Economists expect a solid 180,000 jobs were created in July and that wages rose modestly, following two months this spring where it looked as though hiring went from bust to boom. The forecast is close to the average 172,000 job growth of the past six months, but under the 200,000 rate of the past year. June nonfarm payrolls were 287,000 following a stunningly low May report of just 11,000 jobs. Some of that was blamed on the 40,000 striking Verizon workers during May and their return to work in June. "I think the underlying pace is pretty close to what we've seen so far this year. We're looking a little better this ... (Read the full story)

Ultimate Fighting woos Wall Street with blood, guts and yield

on , from stuff.co.nz

A cool $US500 million (NZ$696 million) of high-risk loans went up for sale and, in a blink, more than $US2 billion of buy orders came pouring in. The hot property? None other than Ultimate Fighting Championship, that global bastion of bloody, bone-breaking cage-fighting. UFC has transformed a sport once derided as human cockfighting into a worldwide phenomenon broadcast in more than 100 countries. But now a powerful financial force - record-low yields - has turned the promotion company into a monument to investors' mad hunt for something - anything - that pays attractive interest rates. Next to plain-old US Treasuries, UFC's ... (Read the full story)

Bangladesh team in Manila says close to recovering only fraction of heist money

on , from reuters.com

A Bangladesh central bank team visiting Manila to recover $81 million stolen from its account in New York said it was close to getting back $15 million of the loot frozen by the Philippines, but first has to prove ownership of the cash to its hosts. Cyber criminals tried to steal nearly $1 billion from Bangladesh Bank's account at the Federal Reserve Bank of New York in February, and succeeded in transferring $81 million to four accounts at Manila's Rizal Commercial Banking Corp (RCB.PS), which was then laundered through the city's casinos, according to investigators. Only about $18 million, including $2.7 million frozen by the ... (Read the full story)

Forex markets cautious ahead of Non-farm Payrolls

on , from hantecfx.com

It is Non-farm Payrolls Friday and there is a cautious outlook across forex markets ahead of the release with the dollar trading mildly weaker. The Fed still claims to be data dependent and the mixed batch of US data recently which drove an initial correction for the dollar followed by a retracement of the move which sets us up fairly cautiously once more for the payrolls. The consensus is expecting a somewhat middle of the road batch of data and a report that will do little to ignite the fires inside the bellies of the FOMC hawks. It could therefore be a rather uncertain reaction to the report today. Markets are mildly dollar negative in ... (Read the full story)

Who is Most Dependent on China?

on , from bloomberg.com

If (or when) China sneezes -- ranging from a sharp devaluation of its currency or protectionist measures to defend local industries -- Singapore, Taiwan, Vietnam, South Korea and Malaysia would be first to feel the chill, according to analysis from Natixis SA. By contrast, Indonesia, India and the Philippines are rather more immune, based on trade, tourism and investment links that were collated by the French Bank's Hong Kong-based economists Alicia Garcia Herrero and Trinh Nguyen. Tourism is another important factor linking the fortunes of Asia's smaller economies to their regional giant. In 2015, the number of Chinese outbound ... (Read the full story)