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And so the confusion remains: why did Yellen go uber dove three days ahead of a day in which the BLS reported that in March not only were 215K jobs created, more than the consensus 205K, if below last month’s 245K, but in which average hourly earnings rebounded a solid 0.3%, above the 0.2% expected, […]

It appears Goldman clients are once again taking a bath. Having proposed that with monetary concerns temporarily sidelined, “good news should be good news for risky assets,” today’s better-than-expected jobs print (following China’s better than expected PMIs) has sent stocks lower, bonds higher, and crack gold and oil…  Stronger USD has sent commodities reeling… Extending […]Read More

On the surface, the March jobs reported was better than expected… except for manufacturing workers. As shown in the chart below, in the past month, a disturbing 29,000 manufacturing jobs were lost. This was the single biggest monthly drop in the series going back to December 2009. But not all is lost: as has been […]

When documenting Gartman’s latest flip-flop yesterday just after 12 pm, in which the “world renowned” CNBC contributor and newsletter writer finally threw in the bearish towel, a position he had stuck with since March 16. This is what he said: We may not agree with what Dr. Yellen is proposing… and what she will pursue… […]Read More

Following China’s miraculous PMI jump back into expansion, Markit reports US Manufacturing also rose to 51.5 in March (despite the biggest drop in manufacturing jobs since 2009). As Markit details, output growth is unchanged from February’s 28-month low, and prices charged decline amid further drop in input costs. ISM Manufacturing also jumpedfrom 49.5 to 51.8 […]Read More

Via Mint’s Bill Blain’s Morning Porridge, ”A common mistake when trying to design something completely fool-proof is to underestimate the ingenuity of complete fools..”  First day of a new quarter, and it feels like we have an answer to the all-important question of the modern age: how many Euro 100 notes can you squeeze into […]Read More

In March the US economy added a healthy 215K jobs, beating expectations and more importantly, pushing the average hourly earnings up by 0.3% on the month. Which, however, is curious because a cursory look at the job additions in the month reveals that nearly two-third of all jobs, and the three top categories of all […]

The FOMC may have cut its rate hike forecast from 4 to 2, following by an even more dovish speech by Janet Yellen, but Goldman is convinced the Fed is wrong. As a result, after looking at today’s payrolls report, its chief economist Jan Hatzius said that “we ultimately think the committee will move faster […]

Vodacom Business, in Nigeria has announced the appointment of Lanre Kolade as Managing Director. He replaces Guy Clarke who returns to South Africa to take up the role of Managing Director, Vodacom Business Africa. Kolade has been in the telecommunications industry for over 19 years and is a product of the Obafemi Awolowo University, University […]

U.S imports of crude oil from Nigeria surged to 559,000 barrels a day in mid-March, compared with an average of 52,000 for all of 2015, according to data from the US Energy Information Agency (EIA) . This is because U.S. producers, who reaped the benefits of the shale revolution, no longer enjoy a steep price […]

Nigeria’s Forte Oil said it plans to raise up to N100 billion ($503 million) to expand its operations in the country, and will seek shareholder approval at its annual general meeting on April 26. The company may raise the funds through a rights issue, bond or share offering, or global depository receipts, according to a […]

Oando Energy Resources (OER) may have defiled all odds by reverting to profitability after posting the highest losses (in third quarter of 2015) by any company on the floor of the bourse. However, the oil giant is not efficient and its ability to meet obligations or pay creditors in the short term is in jeopardy. […]