Global Macro Perspectives
Crude oil stocks edged higher 1.8 million barrels; gasoline stocks up 0.8 million barrels; other oils down 4 million barrels; total stocks up 0.9 million barrels. Refinery utilization rate at 79.9% down from 80.6% last week; inputs into refineries hitting new low. Net imports up 0.4 million barrels, at lowest levels in this decade. To […]
Belisarius cough an interview with the K+S CEO Norbert Steiner on CNBC this morning and got interested in potash producers on the Mr. Steiner words that he expects 50% increase in demand measured by volume. The K+S is the seventh largest potash producer in the world (PotashCorp data) . Earnings today came out below consensus, […]
As reported yesterday, Japan’s machinery orders rose 10.5% vs. 4.1% consensus in September. Bloomberg story: Japan Machine Orders Rise More Than Expected; Recovery May Last. Off course it sparked optimism for the bulls. Today Japan’s October producer prices came out at -6.7% vs. 6% consensus. This was 10th month in a row with negative figure. […]