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Follow on Google News | Lombard Omega Senior Strategist Shows Concern As Jobs Report Is Critical After Mixed Economic Data.Speaking from their corporate headquarters in Seattle, Markus Fairweather, a Senior Strategist, with Seattle based Lombard Omega, Inc., airs his concerns as employment figures loom large as traders seek direction after string of mixed economic report
By: Wilbur Smith Markets have alternated rallies and retreats in recent weeks, sometimes even within a single trading session, following fallout from European debt problems and recent reports on housing, manufacturing and consumer confidence that sent mixed signals. On top of that, the last two weekly jobless claims reports have shown surprise jumps in people filing for unemployment for the first time. In both weeks economists had forecast declines. The uncertainty means investors will delve deeply into the monthly employment report. Underneath headline numbers that aren't apt to improve much, traders and analysts will dissect other data from the report looking for signs that the economy is on the right path. The report could suggest the U.S. is following Europe, where growth is almost nonexistent, or it could show that the fourth-quarter gross domestic product jump of 5.9 percent can be sustained. "Job creation is fundamentally important," said Markus Fairwaether, a Senior Strategist at Seattle based Lombard Omega, Inc. "In the end, if we create jobs, we'll have consumers with dollars in their pockets," Fairweather said before adding, “Consumer spending accounts for about 70 percent of U.S. economic growth, making it critical to a strong recovery.” The headline numbers in Friday's report, the unemployment rate and jobs added or lost, will still be important. Economists polled by Thomson Reuters project the unemployment rate rose to 9.8 percent in February from 9.7 percent a month earlier. At the peak of the recession, employers were shedding more than 700,000 jobs a month. In February, they are expected to have cut 20,000 jobs for the second straight month. "Job losses have slowed significantly," Lombard Omega, Inc. is a Seattle based middle market Boutique Investment Banking and Advisory Firm offering specialized advice and services to both Private and Public companies. Our range of services offered includes mergers and acquisitions, both local and cross border, capital structuring, including raising private equity and placements, promoters funding, mezzanine funding, corporate finance & advisory services. Lombard Omega, Inc's., team of senior investment bankers have extensive experience and a track record of servicing the need of middle market companies. Lombard Omega, Inc’s., philosophy is to work closely with promoters of companies to create customized and innovative solutions. We, at Lombard Omega, Inc., do not believe in closing a deal for our clients but to start and maintain a life long relationship with them. So the closing of a deal is just a starting point for us. Lombard Omega, Inc. has a wide network of associates and institutional/ End
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