Global Macro Perspectives
(For The Week Ending October 29, 2010) Baltic dry index fell 1.8% last week; Capesize Index was down 2.5%; Panamax Index rose 8.6%; Supramax Index was down 2.3%; Handysize Index was down 5.6%. Chinese demand strong, supply of available ships is enough to keep prices at current level. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. […]
(For September 2010) U.S. personal income fell 0.1% in September vs. 0.3% consensus and 0.5% August reading. On y-o-y level the personal income is up 3.1%. Chart 1. U.S. Personal Income U.S. consumer spending rose 0.2% in September vs. 0.4% consensus and 0.5% August reading. On y-o-y level the consumer spending is up 3.7%. Chart 2. […]
(For September 2010) U.S. construction spending rose 0.5% m-o-m in September vs. -0.5% consensus and revised (down -0.6%) 0.2% fall in August. On year level we are at -10.4%. Revisions are so big that one can’t rely on this data. Chart 1. U.S. Construction Spending
(For October 2010) ISM Manufacturing Index was reported at 56.9 vs. prior reading of 54.4 and consensus of 54.5. Manufacturing growth improved in October. Chart 1. ISM Manufacturing vs. Regional Manufacturing Surveys
(For October 2010) Both of the China Purchasing Manager Indexes rose in October. China Federation of Logistics & Purchasing and National Bureau of Statistics PMI (“official PMI”) rose from 53.8 to 54.8. HSBC/Markit China PMI rose from 52.9 to also 54.8. In September industrial production didn’t follow the PMI’s readings, so odds are high this month that industrial […]
(For The Week Ending October 29, 2010) Number of crude oil drilling rigs rose for 1; Number of natural gas drilling rigs rose for 3. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World Rig Count
Important U.S. economic data: Prior Consensus Monday, November 1 Personal Income 0.5% 0.3% Consumer Spending 0.4% 0.4% ISM Manufacturing Index 54.4 54.5 Construction Spending 0.4% -0.5% Tuesday, November 2 FOMC Meeting Begins Motor Vehicle Sales 8.6 M 8.8 M ICSC-Goldman Store Sales Redbook Wednesday, November 3 MBA Purchase Applications Challenger Job-Cut Report ADP Employment Report […]