Try (Not) Using Your Head

Right in the middle of football’s biggest party week, there was more tragic news on the head injury front. Ken Stabler, the flamboyant Oakland Raiders quarterback who led his team to a Super Bowl victory in January 1977, was found to have had brain disease – chronic traumatic encephalopathy, or CTE – when he died of colon cancer last July.

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An Emerging Markets Status Update

1) China relaxed some rules on foreign capital flows, 2) Malaysian Prime Minister Najib is tightening his grip on power, 3) The Czech National Bank (CNB) has tilted more dovish, 4) Ukrainian Economy Minister Abromavicius resigned abruptly, throwing the ruling coalition into turmoil, 5) Argentina unexpectedly settled with holdout Italian investors, 6) Press reports suggest Brazil’s central bank is considering rate cuts later this year

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It's in the Details

The US created fewer jobs than anticipated and the December gain was revised lower.  However, the other details were favorable--better than expected.  The unemployment rate ticked down to 4.9%, a new cyclical low, despite the rise in the participation rate (62.7% from 62.6%).

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Debt is the fatal disease of republics, the first thing and the mightiest to undermine governments and corrupt the people.
Wendell Philips
He who controls the money supply of a nation controls the nation.
James A. Garfield
The moment that government appears at market, the principles of the market will be subverted.
Edmund Burke