Archive for April, 2010

U.S. GDP Rose 3.2% in Q1 2010

U.S. GDP Rose 3.2% in Q1 2010. The consensus was at 3.4%, Q4 reading was at 5.6%. Chart 1. U.S. Real GDP & Percent Change Source:

U.S. Natural Gas Weekly – 29 April 2010

Working gas in storage rose 83 Bcf from previous week. The pain is not coming to its end. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. Natural Gas Futures Curve

Situation Calming Down In Europe

Looks like politicians have managed to calm the markets down with words of support for a Greek bailout. Apparently the newly issued debt will be junior to the one outstanding. There is even some talk that the program would be a fully funded 2-year program. This means something like $100 – $150 billion. Greek government […]

Initial Jobless Claims Fell 11.000

Initial jobless claims were reported at 448.000. The consensus was at 447.000, last week revised higher reading was at 459.000. Chart 1. U.S. Initial Jobless Claims

FOMC Statement, April 28 2010

Nothing major. FED Press Release. Economic activity picking up; Business spending improving; Construction spending not; Labor market beginning to improve. Information received since the Federal Open Market Committee met in March suggests that economic activity has continued to strengthen and that the labor market is beginning to improve. Growth in household spending has picked up […]

U.S. Petroleum Weekly – 28 April 2010

Crude oil stocks rose 2 million barrels for week ending 23 April; Gasoline stocks fell 1.2 million barrels; Distillate stocks rose 2.9 million barrels; Propane/propylene stocks increased 3.6 million barrels; Other oils stocks rose 1.1 million barrels; Total crude oil and petroleum stocks were 12.9 million barrels higher than the week before. Refinery utilization rose […]

MBA Mortgage Applications Down 2.9%

MBA mortgage applications fell 2.9% for week ending 16 April, the prior reading was an increase of 13.6%. Large surge in purchase index (+7.4%) was more than offset by falling refinance index (-8.8%). Chart 1. MBA Mortgage Applications

Euro Stoxx 50 Bellow Trendline

Euro Stoxx 50 broke all the moving averages and moved bellow the trend line. Chart 1. Euro Stoxx 50

Greece & Portugal Update

Well, the Greek government bonds are getting destroyed, Portuguese follow suit. European politicians have to send some kind of message of reassurance to the markets otherwise we could be bound for a quite of a collapse. Chart 1. Greek Government Bond Yield Curve Chart 2. Portugal Government Bond Yield Curve

Conference Board Consumer Confidence For April At 57.9

Consumer Confidence came out at 57.9 vs. 53.5 consensus and 52.5 for March. Large positive surprise. Chart 1. Conference Board Consumer Confidence

S&P/Case-Shiller Composites Fell in February

10 city composite fell -0.6% and 20 composite fell 0.9% in February. Keeping in mind that this is 3 month rolling average. Chart 1. S&P/Case-Shiller Composite 10 Chart 2. S&P/Case-Shiller Composite 20

Greek Bailout Doubts Arise

All the fuss today is the markets realizing that EUR 45 billion is not enough to save Greece from debt restructuring. Looking at the yield curves markets believe maturities shorter than 2 years will be paid in full. Longer duration holders could see some principal loss in debt restructuring. Portugal off-course followed  Greece lead. Markets […]

Rig Count Weekly April 26, 2010

The total number of drilling rigs operating in North America fell for 9 rigs. Number of natural gas drilling rigs fell for 17 rigs; number of crude oil rigs rose for 8 rigs. The natural gas price rebounded a bit on the decrease of natural gas drilling rigs number. Chart 1. Baker Hughes U.S. Rig […]

New Week Intro April 26, 2010

Important U.S. earnings this week: Monday: Texas Instruments (TXN), Caterpillar (CAT) Tuesday: AFLAC (AFL), 3M (MMM), United Parcel Service (UPS), Ford Motor (F), Norfolk Southern (NSC), Newmont Mining (NEM), Automatic Data Processing (ADP), EI DuPont de Nemours & Co. (DD) Wednesday: Express Scripts (ESRX), Comcast Corporation (CMCSA), Thermo Fisher Scientific (TMO), Visa (V), WellPoint (WLP), […]

Dry Bulk Weekly – 25 April, 2010

Baltic dry index rose 0.1% last week. Capesize Index gains were offset by Panamax Index losses. Supramax and Handysize Index almost unchanged. Not much happening here also…Chinese buyers cutting back on iron ore import volumes thereby hurting capesize rates; Iron ore producers holding prices high. Chart 1. Baltic Dry Indexes Relative Performance Chart 2. Baltic […]


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