U.S. Freight Carloads Weekly – March 18, 2011
U.S. railroads originated 392,164 carloads, up 1.5% compared with the same week in 2010 and down 3.7% compared with 5-year average. Week over week change was -2.9%.
Global Macro Perspectives
U.S. railroads originated 392,164 carloads, up 1.5% compared with the same week in 2010 and down 3.7% compared with 5-year average. Week over week change was -2.9%.
Working gas in storage fell 56 Bcf from previous week. The consensus was at 42 Bcf.
Storage level is 3 Bcf higher than same time year ago.
Japanese nuclear disaster could be a game changer for natural gas as LNG cargoes bound for the U.S. could be diverted to Japan. This could clear the oversupply glut.
*** Zero Hedge: Historical Precedent To Predict The Success Rate Of The G7 Yen Devaluation “Accord” ***
*** Zero Hedge: Fed Confirms First FX Market Intervention In 11 Years As Effects Start To Fizzle ***
*** FT Beyond BRICs: EM fund flows: backing off ***
*** FT Alphaville: Who’s been buying Japan like crazy? ***
*** FT Alphaville: Yen volatility is too much for one bank ***
*** FT Alphaville: Those European stress test details ***
*** FT Alphaville: The usual Portuguese bond gyrations ***
*** The Economist: Miracle, or delayed gratification? ***
*** Bloomberg: Sushi Restaurants Drop Japanese Fish From Menus as Radiation Concerns Grow ***
Talking about strange twist of events… Markets not buying the story.
China raised bank reserve requirement from 19.5% to 20% for large banks. I’m beginning to take kind of bearish stance on China because this sort of measures does not bode well for fixed-asset investment fueled economic growth.
Japan earthquake/tsunami/nuclear disaster nagative effect on Chinese manufacturing is also, in my opinion, widely underestimated.