Record Bund/Greek government bond spread is crucial market moving factor today. A lot of rumors on the issue. Bloomberg story: Papandreou Says Rumors Hurt Greece, Not Seeking Aid. As I wrote before I expected a meltdown before this weeks bond issue, but apparently they manged to sell the bonds, but the pain continues… Durable orders […]

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Working gas in storage fell 86 Bcf from the previous week. Somewhat disappointing  draw, the futures price declined more with all energy commodities than because of fundamentals. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5-year Range

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