US Jobless Rises to 9.4%
Unemployment is the US jumped to 9.4 percent in May with another 345,000 jobs lost. Despite the increase in unemployment, this is the fewest jobs lost since September and is the fourth straight month where the pace of layoffs has eased. More
UK Economy Shrinks as Construction Falls 9%
The Office for National Statistics reported today that construction output fell by 9 percent for the first quarter of the year greatly exceeding estimates of 2.4 percent and the worst quarterly result since 1979. More
Canadian Dollar Falls on Weak Employment Numbers
The Canadian dollar fell on news that another 42,000 jobs were lost in May pushing unemployment to an 11-year high of 8.4 percent. More
Bond Yield Increases Signal Higher Retail Lending Rates
Tentative signs of improvement in the US economy and a recent upgrade in bank stocks is encouraging investors to leave the safety of government debt in favor of higher-yielding equities. This is expected to lead to higher yields to attract more investment in government bonds which will lead to higher interest rates for retail customers. More
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