Pros Say: Payrolls May Fall More than Expected
Global stocks were back in the green Wednesday, and the dollar rose to 3-year highs, as investors scrambled to limit risk. But concerns about the stability of the financial sector persist as Federal Reserve Chairman Ben Bernanke failed to rule out further bank bailouts in his testimony on Tuesday.
Experts interviewed by CNBC weigh in on the governments' efforts to sustain the financial sector and global economy and warn of more dismal unemployment figures.
US Feb Nonfarm Payrolls May Fall 750,000
The U.S. February nonfarm payrolls, due Friday, could show a worse-than-expected loss of 750,000 jobs, predicts Jan Lambregts, head of research, Asia Pacific at Rabobank International.
TALF Step in the Right Direction
The government is becoming the securitization mechanism for consumer lending, says Wilbur Ross, chairman and CEO of WL Ross & Co. He tells CNBC that this is a constructive move for the U.S. economy.
Citibank Should Not be Controlled by US
The U.S. state department should not be running institutions like Citibank, as a huge proportion of their business is outside the U.S., says Wilbur Ross, chairman and CEO of WL Ross & Co. He tells CNBC that it is difficult for these international institutions to do business overseas if it is controlled by the U.S. government.
Dollar is King
The dollar remains king against the euro and emerging markets over the next 3 to 6 months, says Win Thin, senior currency strategist at Brown Brothers Harriman & Co.
Euro Looking Vulnerable
The euro is looking more vulnerable as we head into the week, says Euan McCreadie, senior corporate dealer at OzForex.
Jobs Losses Not as Bad as 1970s
US nonfarm payroll figures are likely to be bad when they're released Friday, but in relation to the mid-1970s, they could be worse, Joost van Leenders from Fortis Investments told CNBC.