Daily Reading – January 19, 2011
FT Alphaville: More on the widening WTI-Brent spread
The newswire claims oil trader Hetco has taken control of the first eight North Sea Forties crude oil cargoes loading in February and two Brent cargoes.
That’s around 30 per cent of February’s physical Brent crude market!
FT Alphaville: Weirdo Greek debt restructuring
To see one story on Wednesday about an imminent restructuring of Greek debt may be regarded a misfortune. To see two…
FT Alphaville: Reflections on the weirdo Greek debt plan
So would the weirdo Greek restructuring plan being previewed in German paper Die Zeit work?
FT Alphaville: The Pomo flip
The Federal Reserve bought $7.72bn worth of US Treasuries on Wednesday, and specifically $675m of Cusip No. 912828PL8 and some $7bn of Cusip No. 912828PQ7.
Why do we bring it up?
Because the US Treasury only just auctioned off that second Cusip…
The Big Picture: A Few Thoughts on Steve Jobs / Apple
The announcement yesterday that Steve Jobs is taking a leave of absence from Apple is one of those events that leads to a reflexive spasm of half thought out commentary. The mad rush to publish something often leads to some pretty silly statements making the rounds.
The Big Picture: Total Market Cycle
Cool graphic from Alpha Scanner showing the phases of market.
The Slope Of Hope: We’ve Seen This Movie Before
Calculated Risk: Record Low Housing Completions in 2010
This is a key story: there were a record low number of housing completions in 2010, breaking the record set in 2009.
Paper Economy: MBA Application Survey – January 19 2011
The purchase application volume remains near the lowest level seen in well over a decade while refinance activity continues to slow.