Global Macro Monitor 121 posts 0 comments

Here is an interesting take on the valuation of the S&P500 by our friends over at The Chart Store, who do excellent work. Their chart shows that it now takes 69.23 hours at the average hourly wage of $19.53 to buy the S&P500.

Here’s an interesting video clip that reinforces our view that almost all new innovation and technology is labor saving/destroying and that U.S. unemployment is much more structural than most perceive (click here to view video). Even the…

Great data from from the BLS. The average annual wage in New York’s financial industry more than tripled from 1990 to 2009.

Another awesome piece of work from our friends over at The Chart Store. The chart below is a times series of the numbers of hours of work — based on the average hourly wage — needed to buy a barrel of crude oil. Given the current wage of…

A breakdown of Friday's numbers with net loss and gain by key industry.

Here is something brewing off radar. We’re wondering if this is a factor as to why crude is bid and gold is coming back?

So what is the trade? If Italy continues to blow out and a big bazooka EFSF bailout fund is not attainable, the EU will be faced with certain death or massive ECB bond purchases. We think they will choose the later, which makes the Euro a…

Lots of debate out there what took the market down today. We’re not certain you can tag the first 15 S&P points on a single factor — MF Global, euro, Italy, yen intervention and strong dollar, or simple profit taking — but willing to up…

It’s clear from the 1998 chart that the S&P500 was still in a major uptrend, which can’t be said of today’s market. Interestingly the 1998 20.7 percent 17-day spike started with a similar nasty bear trap. Remember, John Bull can stand…

Here’s a very informative chart via Morgan Stanley showing the deterioration in the Eurozone’s key credit indicators. Banks will no doubt sell assets, at least in part, as a way to meet their required capital targets.