Global Macro Perspectives
(For The Week Ending September 17, 2010) Working gas in storage rose 73 Bcf from previous week. Consensus was at 80 Bcf. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. Natural Gas Futures Curve
(For August 2010) If you were (same as I) wondering why market moved up it was because of this. Conference Board Leading Economic Index (LEI) rose 0.3% in August. The consensus was at 0.1%, prior revised reading was at 0.1%. On year level LEI is up 6.9% vs. 7.2% in July. Digging little deeper we can […]
(For August 2010) Sales of existing homes in U.S. rose 7.6% to 4.13 million units SAAR. Consensus was at 4.1 million. Chart 1. U.S. Existing Home Sales Total housing inventory is unchanged from July at 4.0 million units. Months supply fell from 12.5 to 11.6 months. Chart 2. U.S. Existing Home Sales Inventory & U.S. Existing […]
For The Week Ending September 17, 2010) Crude oil stocks rose 1.0 million barrels for the week ending September 17, 2010; Gasoline stocks increased 1.6 million barrels; Distillate stocks were up 0.3 million barrels; Propane/propylene stocks remained unchanged; Other oils stocks were up 0.7 million barrels; Total crude oil and petroleum stocks were 2.9 million […]
(For The Week Ending September 18, 2010) Initial jobless claims in the U.S. were reported at 465.000. The consensus was at 450.000, last week revised (up 3.000) reading was at 453.000. Chart 1. U.S. Initial Jobless Claims
(For July 2010) FHFA House Price Index fell 0.5% in July vs. fall of 0.3%in June. On year level the index is down 3.3%. House prices could return to negative trend. Chart 1. FHFA House Price Index
Irish and Portuguese 10 year government bond yield spread versus same maturity German keep on rising. Latest rumors are that tha Anglo Irish creditors will not be paid off in full. Ireland auctioned February 2011 and April 2010 bills today; bit to cover for February bills fell from 9.4 times on previous auction to 4.1 times; bit to cover […]