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The headline jobs number in the December employment report was well above expectations, however, October and November payrolls were revised down by 8,000 combined. The participation rate was unchanged, the employment population ratio increased, and the unemployment rate decreased to 4.1%. Earlier: December Employment Report: 256 thousand Jobs, 4.1% Unemployment Rate Prime (25 to 54 Years Old) Participation Since the overall participation rate is impacted by both cyclical (recession) and demograp
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the "Social Security Fairness Act" was signed into law this week, eliminating the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) provisions, which previously reduced the Social Security benefits of individuals who worked in both "covered" (jobs for which they paid into the Social Security system) and "non-covered" (those in which they didn't,
BofA announced it hired Ed Riley and Jessica Mullin several days after unveiling its new advisory group for ultra-high-net-worth clients based out of its Merrill Wealth division.
From the BLS: Employment Situation Total nonfarm payroll employment increased by 256,000 in December, and the unemployment rate changed little at 4.1 percent , the U.S. Bureau of Labor Statistics reported today. Employment trended up in health care, government, and social assistance. Retail trade added jobs in December, following a job loss in November.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
This week, we speak with Brian Hurst , the Founder and Chief Investment Officer of ClearAlpha. Prior to founding ClearAlpha, Brian spent 21 years at AQR Capital Management as a portfolio manager, researcher, head of trading, and the firm’s first non-founding Partner. He was also Cliff Asness’ first hire at GSAM. Hurst was instrumental in designing and implementing AQR’s trading platform.
If someone asked what your money values were, would you know how to answer? Or would you find yourself searching for a response and coming up blank? Our values are a key part of who we are, yet we often don’t take the time to intentionally think about, define, and understand themespecially when it comes to money. For anyone looking to transform their relationship with finances, figuring out your money principles is a great first step.
A quote from one of my favorite books, The Little Prince by Antoine de Saint-Exupery says, A goal without a plan is just a wish. As we enter 2025, its the perfect moment to take stock of your financial journey and map out your path for the year ahead. Whether you’re focused on building a retirement fund, saving for a big purchase, or simply improving your financial habits, setting clear, realistic goals and crafting a solid plan are the keys to success.
Given the similar net returns that UMM and LMM loans have delivered, allocators should consider diversifying across borrower size cohorts. Since LLM loans are somewhat riskier, careful due diligence should be performed in terms of a lenders credit loss history, fees/expenses, and use of leverage. Private Credit: Upper Versus Lower Middle Market Lending was originally published at Alpha Architect.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Tax advice is a common topic on social media platforms like TikTok. Influencers promise easy ways to secure tax deductions, simplifying complex ideas into bite-sized claims that gloss over important details in the process. In this article, well separate the facts from the fiction regarding these social media claims, highlighting the difference between popular and professional tax advicea difference that can have profound consequences when dealing with the Internal Revenue Service.
The S&P 500 has had a big run in recent years, led by the biggest tech stocks. But investors often forget that there are many other companies in the index besides the biggest name. And many of those names offer significant value based on their fundamentals. Using a screening system that incorporates 22 different investment strategies – modeled after legendary investors like Warren Buffett and Peter Lynch, as well as proven academic research – Validea has identified ten S&P 50
Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
In the recent market correction, I observed many finfluencers and mutual fund distributors cajoling their over-concerned audience & customers by giving them reasons regarding why the markets will bounce back soon and why they should think of the long term and not worry too much. And this is when the markets didn’t even correct much – just around 10%.
Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process.
The yield on the 10-year note ended January 10, 2025 at 4.77%, its highest level since November 2023. Meanwhile, the 2-year note ended at 4.40%, its highest level since July 2024.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
Markets The equity risk premium is negative. (bloomberg.com) The seven pillars of market bubbles. (acadian-asset.com) Crypto Fidelity Wise Origin Bitcoin Fund ($FBTC) how has $21.4 billion one year in. (etf.com) More companies are adding Bitcoin to their balance sheets. (nytimes.com) Did you know Bhutan has a strategic allocation to cryptocurrencies?
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of those indicators, nonfarm employment. December saw a 256,000 increase in total nonfarm payrolls and the unemployment ticked down to 4.1%.
A few excerpts from a Goldman Sachs research note: Nonfarm payrolls rose 256k in December, well above consensus expectations. The household survey was also strong. The unemployment rate fell 0.15pp to 4.09%, reflecting a 478k gain in household employment and an unchanged labor force participation rate, at 62.5%. Following this mornings data, we now expect the FOMC to deliver two 25bp cuts this year (vs. three previously) at its June and December meetings, followed by another cut in June 2026, to
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
From BofA: Since our last weekly publication, our 4Q GDP tracking estimate has moved down three tenths to 1.8% q/q saar. The final estimate of 3Q GDP came in at 3.1% q/q saar, close to our tracking of 3.0%. [Jan 10th estimate] emphasis added From Goldman: We left our Q4 GDP tracking estimate unchanged at +2.3% (quarter-over-quarter annualized) and our Q4 domestic final sales forecast unchanged at +2.3%.
Many people these days are on heightened alert for bubbles, and I’m often asked whether there’s a bubble surrounding the Standard & Poor’s 500 and the handful of stocks that have been leading it.
Finance Derek Thompson talks with Michael Cembalest chairman of market and investment strategy for JPMorgan Asset Management about the state of the economy headed into 2025. (podcasts.apple.com) Barry Ritholtz talks with Brian Hurst, the Founder and Chief Investment Officer of ClearAlpha. (ritholtz.com) David Senra on lessons learned from the life of Hetty Green, once the 'richest woman in America.
The S&P 500 fell over 1.5% on Friday following the release of December's stronger than anticipated jobs report. The index is now 4.32% below its record close from December 6th, 2024 and is down 0.71% year to date.
It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
The U.S. economy has entered Rasputin territory — it just refuses to die. Every time there is something for people to worry about — war, inflation, commercial real estate, the Fed raising rates, softening labor markets, etc. — the economy takes it on the chin and keeps moving forward. Today we got another solid jobs report. The unemployment rate actually ticked down again to 4.1% and has been remarkably.
After cementing its position as the dominant player in the US for a niche but highly lucrative investment vehicle, Janus Henderson is looking to try its luck in Europe.
Bringing home one baby is a life-changing event, but bringing home two? Its double the love, double the joy, andlets be honestdouble the expenses. When I found out I was having twins, I wasnt sure what to expect financially. I knew that babies were expensive, but two at once? That felt overwhelming. However, through trial and error, I found ways to make budgeting for twins manageable without sacrificing what my babies needed.
Invesco Ltd.’s ETF lineup absorbed a record amount of cash in 2024 from at least two classes of investors: those chasing AI-driven gains, and those shying away from big tech’s sway.
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
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