Archive for January 31st, 2011

Chicago Purchasing Managers Index For January At 68.8

Chicago Purchasing Managers Index was reported at 68.8. Consensus was at 65.0, prior reading at 68.6.

To repeat: Industrial production will continue to slowly expand in January.

U.S. Personal Income Rose 0.4%; U.S. Consumer Spending Rose 0.7%

U.S. personal income rose 0.4% in December vs. 0.4% consensus and 0.3% rise in November. On y-o-y level personal income is up 3.8%.

Dry Bulk Weekly – January 31, 2011

Baltic dry index fell 17.0% last week; Capesize Index was down 12.1%; Panamax Index fell 19.0%; Supramax Index decreased 15.3%; Handysize Index fell 7.1%.

Iron ore stockpiles in Chinese ports at all-time high, iron ore demand will be weaker because of lunar new year (February 3rd). All this looks quite negative for dry bulk rates.

Dry bulk companies news flow very negative with Korea line receivership and Excel maritime postponing $250 million debt offering.

We could see some improvement after the lunar new year; Keeping close watch on Egypt developments.

Morning Reading – January 31, 2011

*** FT BeyondBRICs: Egypt downgraded ***
*** Econbrowser: Geopolitical unrest and world oil markets ***
*** Reuters: RPT-FACTBOX-The Suez Canal ***
*** JESSE’S CAFÉ AMÉRICAIN: Despite the Miss on Expectations Today’s US 4Q GDP Number Was Still a Puffball ***
*** JESSE’S CAFÉ AMÉRICAIN: SP 500 and NDX March Futures Daily Chart – The Sleeper Awakens ***
*** JESSE’S CAFÉ AMÉRICAIN: Gold Daily and Silver Weekly Charts – Potential Intermediate Bottom in Gold ***
*** JESSE’S CAFÉ AMÉRICAIN: Gold Chart – This Is What I Thought Was Probably Going To Happen Ex Egypt ***
*** Consumer Metrics Institute: What the BEA’s Advance Estimate of Fourth Quarter 2010 GDP Was Really Telling Us ***
*** The Big Picture: Dimon: Let the big dumb banks fail ***
*** The Big Picture: Ch 18, Bailout Nation: Citigroup: Too Big to Succeed? ***
*** The Big Picture: Limerick: FOMC January Meeting ***
*** The Big Picture: Marc Faber on China, Obama, Politicians ***
*** Daily Options Report: VIX-Plosion 2011 ***
*** Seeking Delta: World Market Valuation Heat Map ***
*** Zero Hedge: Complete John Paulson 2010 Year End Letter ***


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