August hiring slowed to 130,000 jobs, reflecting late-cycle business dynamics and the impact of the trade war that is now spilling over into the real economy. After adjusting for Census Bureau hiring the top-line hiring increase was only 105,000 jobs, just above the 100,000 necessary to stabilize the unemployment rate … READ MORE >
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Public scrutiny over ESG holdings will cause universal reporting change
As environmental, social and governance investing continues to grow in popularity, investors need to carefully evaluate how their holdings will be viewed by the public. Asset managers must balance their desire to promote ESG consciousness with their fiduciary duty to drive financial returns. … READ MORE >
US August employment preview: focus on goods producing and manufacturing jobs
Investor attention will be squarely focused on the pace of hiring in goods production and manufacturing in the August U.S. employment report released on Friday. The results will follow a decline in the August ISM manufacturing employment sub-index to 47.4, which implies contraction in hiring across those sectors. … READ MORE >
RSM Brexit Stress Index posts highest level since June 2016 referendum
The RSM Brexit Stress Index reached its highest level since the U.K.’s June 2016 referendum to leave the European Union, closing at 1.93, up 8 points on Tuesday from 1.85 a week earlier, amid instability in the U.K. government. … READ MORE >
Latest ISM purchasing managers index signals potential recessionary territory for manufacturing sector
A key gauge of U.S. factory activity contracted in August for the first time in three years, as new orders continued to stall. Performance of the ISM purchasing managers index highlights the repercussions of trade uncertainty and slower growth outside of the U.S., with signs pointing to U.S. manufacturing entering a recession. … READ MORE >
RSM Brexit Stress Index surges on likelihood of “no deal” Brexit
The RSM Brexit Stress Index rose to record highs on Wednesday, following news that the government of Prime Minister Boris Johnson had received the okay to suspend Parliament just weeks ahead of a deadline for the U.K. to chart its path for withdrawal from the European Union. … READ MORE >
No holiday break for fashion and apparel
Fresh 15% tariffs on $300 billion of Chinese goods are set to take effect next week. Despite an effort to mitigate the blow amid the impending holiday season by delaying some items on the list, the apparel industry didn’t catch a break. RSM’s Chris Shaker and Carol Lapidus break down the expected impact. … READ MORE >
RSM Brexit Stress Index: Factoring in longer-term issues
The RSM Brexit Stress Index ended higher again this week on increased volatility. The composite index, which measures economic stress surrounding Britain’s impending departure from the European Union, closed at 1.74 on Friday from 1.64 a week ago. … READ MORE >
Is the next mortgage bubble imminent? Not so fast, the debt data tells us
There’s no denying that U.S. consumer debt is high. But despite headlines about a pending mortgage crisis not unlike the one that preceded the Great Recession, data shows that the U.S. economy is not yet ready for a “back to the future” scenario, writes RSM Senior Real Estate Analyst and Partner Troy Merkel. … READ MORE >
Family office direct investing is on the rise
The amount of wealth managed by family offices continues to grow as more families sell out of their founding businesses. Direct investing by these offices have grown more than 100% in the last 10 years. … READ MORE >