Niall Ferguson: In China’s Orbit
The Wall Street Journal Link: In China’s Orbit.
I will post the whole article, as I find it great and the original link doesn’t work well. Hope the WSJ people won’t mind… I promise I won’t do it again.
Archive for November, 2010
U.S. Freight Carloads Weekly – November 20, 2010
U.S. railroads originated 297,269 carloads, up 5.7% compared with the same week in 2009, but down 6.0% compared with 5-year average. Week over week change was +3.2%…
Daily Reading – November 19, 2010
Todays interesting post and stories…
Daily Reading – November 18, 2010
Todays interesting post and stories…
U.S. Natural Gas Weekly – November 18, 2010
Working gas in storage rose 3 Bcf from previous week. Consensus was at 7 Bcf…
Conference Board Leading Economic Index For October Rose 0.5%
Conference Board Leading Economic Index (LEI) rose 0.5% in October. The consensus was at 0.6%, prior revised reading (from +0.3%) was at 0.5%. On year level LEI is up 6.0% vs. 6.8% in August.
This is uber-Keynesian indicator as 43% of its value is derived from monetary factors (M2 and interest rate spread)…
November Philadelphia FED General Business Conditions Index At 22.5
Philadelphia FED General Business Conditions Index rose to 22.5. The consensus was at 5.6, prior reading at 1.0.
Large positive surprise and big contradiction to Empire State Manufacturing…
U.S. Petroleum Weekly – November 18, 2010
Crude oil stocks fell 7.3 million barrels; Gasoline stocks were down 2.7 million barrels; Distillate stocks were down 1.1 million barrels; Propane/propylene stocks rose 0.9 million barrels; Other oils stocks rose 0.7 million barrels; Total crude oil and petroleum stocks were 9.1 million barrels lower than the week before.
Refinery utilization rose 1.6% to 84.0%.
Implied crude oil demand rose 0.3 million barrels to 14.5 million barrels.
Crude oil and petroleum product net imports fell 0.2 million barrels to 8.1 million barrels.
Refiners disciplined in cutting capacity and stocks;stockpiles overall still high; if China reduced imports and U.S. have reduced imports one wonders where excess crude oil is ends up…
U.S. Initial Jobless Claims At 439.000; Up 2.000
Initial jobless claims in the U.S. were reported at 439.000. The consensus was at 441.000, last week revised (down 3.000) reading was at 437.000.
Improvement, but small and appears it has stalled…
Daily Reading – November 17, 2010
Todays interesting posts and stories…
U.S. Housing Starts Rose 11.7%; Number Of Building Permits Issued In The U.S. Rose 0.5%
U.S. housing starts in October fell 11.7% to 519.000 vs. revised (10.000 lower) 588.000 September reading. The consensus was at 598.000. On year level U.S. housing starts are down 1.9%…
U.S. Consumer Price Index Rose 0.2% In October
U.S. consumer price index rose 0.2% in October vs. 0.3% consensus and September reading of 0.1%. On year level CPI inflation is running at 1.2%…
MBA Mortgage Applications Down 14.4%
MBA mortgage applications fell 14.4%; Prior reading was an increase of 5.8%; On year level MBA Basic Index is up 13.4%…
Ireland Opens Bank Books; Ready To Receive Bailout If Problems Are Too Big
It appears that Ireland is moving closer toward some kind of bailout. It is clear that Irish government want to keep some kind of fiscal independence and shift the focus toward bank problems, not country problems…
Gavyn Davies: Europe Must Compromise To Solve Its Debt Crisis
This is the absolute truth. Indecisive politicians and lack of leadership are two most significant EU problems…