China warns U.S. on managing its debt: The comments from People's Bank of China Governor Zhou Xiaochuan, posted on the central bank's website, signal China's lingering concern over America's financial health. China is the U.S.' largest foreign creditor, holding at least $1.16 trillion in Treasury securities.
Currency Intervention Revived as Odds of Fed Easing Escalate: Just eight months ago, Brazilian Finance Minister Guido Mantega declared a “truce” in competitive currency devaluations. Now, Japanese and Swiss moves to weaken the yen and the franc show reviving tension in foreign-exchange markets as the deteriorating U.S. economy weighs on the dollar.
Nonfarm payroll for July posts modest increase of 117,000: Although the 117,000 jobs created during July was slightly better than anticipated, it was still not enough to keep up with growth in the number of working-age Americans, let alone make a dent in the unemployment figures.
Beneath Jobs Report Surface Lies Some Ugly Truths: Let’s start with the reality that fewer people actually were working in July than in June.
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