The S&P 500 Financial Sector stocks are off only 1.5% ahead of tomorrow's regulatory revamp. The sell-off in this sector is rather shallow suggesting there is little for banks to fear on the regulatory front. Perhaps most daunting will be increased capital requirements..which can be a moving target when the govt is backstopping.
US OUTLOOK: Nomura says little job growth and a hike in unemployment is priced into mkts. Goldman sees flat pvt Aug payrolls, says this would be a continuation of recent trends. ...continued
US OUTLOOK: FTN says reaction to today's jobs number could be complicated by the reaction to Wednesday's mfg ISM (above 60 for the first time since May'04, and causing the market to price in a stronger payroll report). "For that reason, w ...continued
US CDS OPEN: Asian shares closed moderately higher on Friday, buoyed by mild gains in the US on Thursday, following some positive macro data. In Europe this morning stocks are also in moderately positive territory, pushed higher by M&A speculation, but ...continued
--Adds Detail To Version Transmitted At 0853 GMT --UK Aug CIPS/Markit Services PMI 51.3 Vs July 53.1 --UK Aug CIPS/Markit Composite PMI Output Index 53.2 --UK Aug CIPS/Markit Composite PMI Sees Largest Fall Since Nov 2008 LONDON (MNI) - The UK Aug ...continued
--UK Q2 New Construction Orders Fall 14.0% Q/Q, -9.0% Y/Y LONDON - The total volume of new construction orders slid in Q2, despite strong gains in private commerical demand, as public expenditure on construction fell back sharply and private housing or ...continued
