January 13th, 2011 by Belisarius
*** FT Alphaville: Vox populi, vox stulti — US-China datapoint ***
*** FT Alphaville: The graphic, gigantic, European bailout fund ***
*** FT BeyondBRICs: S Korea: a small surprise ***
*** FT BeyondBRICs: Indian equities: cause for concern? ***
*** The Big Picture: Gross Says Pimco Not a Buyer of Portugal’s Debt at Sale ***
*** Daily Option Report: VIX Volatility Still On Hold ***
*** Calculated Risk: Trade Deficit declined slightly in November ***
*** Calculated Risk: NAHB Forecast: Single Family Starts to increase 21% in 2011 ***
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January 13th, 2011 by Belisarius
Crude oil stocks fell 2.2 million barrels; Gasoline stocks rose 5.1 million barrels; Distillate stocks were up 2.7 million barrels; Propane/propylene stocks were down 3.4 million barrels; Other oils stocks decreased 3.4 million barrels; Total crude oil and petroleum stocks were 0.9 million barrels higher for the week.
Refinery utilization rose 1.6% to 86.4%.
Implied crude oil demand remained unchanged.
Crude oil and petroleum product net imports rose 1.4 million barrels to 9.3 million barrels.
Large gasoline stockpiling because of bad weather. Going into new year crude oil stocks will probably rise on refiner restocking and not so stellar demand.
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January 13th, 2011 by Belisarius
Initial jobless claims in the U.S. were reported at 445.000 vs. 410.000 consensus; last week revised (up 1.000) reading was at 410.000.
Again rising; the fall in initial jobless in last few weeks claims was obviously a product of holiday spirit.
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January 13th, 2011 by Belisarius
U.S. producer price index rose 1.1% in December vs. 0.8% consensus. November reading was also at 0.8%. On year level PPI is up 4.1%.
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