Private nonfarm payrolls in the US are projected to increase 210,000 (seasonally adjusted) in tomorrow’s April update from the Labor Department, according to The Capital Spectator’s median econometric point forecast. The expected monthly rise is moderately above the previously reported increase of 192,000 for March.
Continue reading →

April was kind to the major asset classes, at least in relative terms. All corners posted gains. The big winner: US REITs, which topped the list with a strong 3.3% total return, based on the MSCI US REIT Index. In fact, US REITs have been firing on all cylinders lately—so far this year, the asset class is comfortably in the performance lead with a hefty 13.7% advance in 2014 through the end of April. In close pursuit: commodities, which have rebounded sharply this year, gaining nearly 10% via the broadly defined DJ-UBS Commodity Index. In other words, portfolio strategies with low-to-zero weights in US REITs and commodities have endured substantial opportunity costs in recent months.
Continue reading →