Global Macro Perspectives
*** Gavyn Davies: When should the ECB buy sovereign debt? ***
*** PIMCO Tony Crescenzi: Ben Bernanke: The Decider ***
*** The Big Picture: Discuss: Goldman Is the New Master of the EU? ***
*** The Big Picture: No debt deal, buy Treasuries and the US$?! ***
*** The Register: Kindle Fire: An open letter to Jeff Bezos ***
*** Pogue’s Posts: Nook’s Specs Are Exaggerated, Again ***
Baltic dry index rose 3.3% last week; Capesize Index was up 2.7%; Panamax Index rose 4.0%; Supramax Index was up 4.3%; Handysize Index fell 2.1%.
Baltic Dirty Tanker Index rose 1.4%; Baltic Clean Tanker Index fell -2.4%.
Crude oil supply and demand remain balanced. Crude had a tremendous run and it’s starting to look overextended. Brent WTI price spread narrowed on the reversal of Seaway pipeline.
*** BeyondBRICs: China property: construction blues ***
*** BeyondBRICs: Singapore exports: 16 per cent drop signals poor Christmas for Asian manufacturers ***
*** BeyondBRICs: Fitch: beware Chinese bank debt ***
*** The Slope Of Hope: Triangle Man ***
*** FT Alphaville: The naked derivative exposures of banks to sovereigns ***
*** FT Alphaville: The reversing core-headline CPI gap ***
*** FT Alphaville: Bye, bye WTI-Brent spread disconnect… ***
*** Credit Slips: Is Bank of America Gambling on Resurrection (or Is BoA Holding the US Hostage)? ***
U.S. housing starts in September fell 0.3% to 628.000 vs. revised (28.000 lower???) 658.000 September reading. Consensus was at 610.000. On year level U.S. housing starts are up 16.5%.
Initial jobless claims in the U.S. were reported at 388.000 vs. 395.000 consensus and last week revised (up 3.000) reading of 393.000.
*** FT Alphaville: French bonds — some (parabolic) perspective ***
*** FT Alphaville: Dios mío! – redux ***
*** FT Alphaville: Please give generously… ***
*** FT Alphaville: The Buffett rule ***
*** FT Alphaville: Some euro banknotes are more equal than others ***
*** Felix Salmon: Europe’s liquidity crisis ***
*** FT Money Supply: The FEER – updated Nov 2011 ***
*** The Big Picture: A Global View of the Housing Bubble ***
*** The Big Picture: Construction Boom in 31 Countries & the Great Recession ***
*** The Big Picture: The Biggest Bubble in History? ***
*** Gregor.us: Selling the Oil Illusion, American Style ***
*** Macro Man:While Europe Fiddles, TMM Correlate and Disperse ***
*** Econbrowser: Exports in the Recovery (II) ***
*** FT BeyondBRICs: RBS: sell Argentine GDP warrants ***
*** Gavyn Davies: The Italian Job ***
*** FT Alphaville: Eurozone, why did we bother ***
*** FT Alphaville: Pan-labyrinth ***
*** FT Alphaville: Bolton keeps the faith ***
Baltic dry index rose 2.9% last week; Capesize Index was up 13.0%; Panamax Index fell 4.1%; Supramax Index was down 7.1%; Handysize Index fell 7.3%.
Baltic Dirty Tanker Index rose 1.3%; Baltic Clean Tanker Index fell -1.7%.
*** Ultimi Barbarorum: The Beginning of the End of the Euro Crisis? ***
*** FT BeyondBRICs: China inflation: a big fall ahead? ***
*** FT Alphaville: Koo: price-to-rents back to normal. Does it matter? ***
*** FT Alphaville: The Asian fuel-oil indicator ***
*** The Big Picture: Business Cycle Trends ***
*** The Big Picture: European Bank Exposure to Risky Mortgage Assets ***
*** The Big Picture: 4 Major Secular Bear Markets, 1900-2011 ***
*** Gavyn Davies: The eurozone decouples from the world ***
*** An American Perspective from China: Déjà Vu All Over Again ***
*** FT Alphaville: Italian premier pokes Europe ***
*** FT Alphaville: Italian bond rout [updated] ***
*** FT Alphaville: The wrong technocrats ***
*** The Big Picture: Is the US Still on the Verge of Recession? ***
*** The Big Picture: Another week of political driven markets ***
*** The Big Picture: The Big Lie of the Financial Crisis ***
Baltic dry index fell 11.6% last week; Capesize Index was down 14.8%; Panamax Index fell 5.3%; Supramax Index was down 7.8%; Handysize Index fell 7.4%.
Baltic Dirty Tanker Index fell 1.9%; Baltic Clean Tanker Index fell -2.7%.