U.S. Existing Homes Sales Fell 9.6% In February
Sales of existing homes in U.S. fell 9.6% to 4.88 million units SAAR. Consensus was at 5.12 million.
Archive for March 21st, 2011
Morning Reading – Monday, March 21, 2011
*** FT Alphaville: Tokyo: A view from the ground, Part II ***
*** London Banker: Solution for Fukushima Cooling Pools ***
*** London Banker: “You can’t build a car with 97% of the parts” ***
*** FT BeyondBRICs: El-Erian (1): world near tipping point? ***
*** FT Alphaville: China’s missing M2 ***
*** FT Alphaville: Watching Japan’s return from Oz ***
*** The Big Picture: Risk On/Risk Off Trade Returns ***
*** Harvey Organ’s Daily: Crisis in Japan Deepens/G7 comes to financial rescue with Japan ***
*** Association for Psychological Science: Are the Wealthiest Countries the Smartest Countries? ***
February Chicago Fed National Activity Index At -0.04
Chicago Fed National Activity Index for February was reported at -0.04 vs. revised January reading of 0.01. Chicago Fed National Activity Index 3-month moving average is at 0.11.
CFNAI is pointing to mild economic growth.
Dry Bulk Weekly – March 21, 2011
Baltic dry index fell 2.0% last week; Capesize Index was down 10.8%; Panamax Index fell 1.8%; Supramax Index rose 2.9%; Handysize Index was up 3.4%.
To repeat: Judging from increase in dry bulk rates and an end of raw materials stockpiling economic activity in China is accelerating after the holidays.
Tanker Weekly – March 21, 2011
Baltic Dirty Tanker Index fell 1.1%; Baltic Clean Tanker Index rose 0.8%.
Markets adapted well to the new setup (ex. Libyan oil and with increased Japanese product demand), risk is on the downside.
Rig Count Weekly – March 21, 2011
Number of crude oil drilling rigs rose for 12; Number of natural gas drilling rigs fell for 7.