What 1971 Set in Motion

ADP Employment Reports Shows Better Than Expected Job Gains, Accelerating Wages Hiring and pay gains both held steady in March. The ADP National Employment report printed a better than expected +62k jobs added in March (+40k exp) and modestly down from an upwardly revised 66k in February. That is the ninth straight month of job gains. Source: Bloomberg The smallest employers drove job growth for a second month, while hiring in trade, transportation, and utilities continued to decline. "Overall hiring is steady, but job growth continues to favor certain industries, including health care. In March,...

Mossad Chief Declares Mission In Iran Not Over Until Regime Falls A two-week Iran-US-Israel ceasefire is still in effect despite the collapse of last weekend's Islamabad talks, where the big hang up was fierce disagreement over Iran's nuclear development. The clock is ticking amid efforts to hold more direct talks by the end of this week. What's unlikely to help things move along is a fresh statement from Mossad Director David Barnea. While speaking at a Holocaust Remembrance Day ceremony in Jerusalem on Tuesday, he boasted that Mossad assets have been operating from...

First Major Weather Organization Declares El Nino Onset As Food Inflation Risks Intensify For months, we have warned readers that the probability of El Niño formation was rising, with downstream risks across critical agricultural growing belts. That forecast has now moved from a risk scenario to reality, as the first major weather body has formally declared the onset of this warming pattern in the equatorial Pacific, threatening to disrupt rainfall, temperatures, crop yields, power demand, and commodity flows into year-end. Bloomberg commodity expert Javier Blas wrote on X, "The Japanese...