Global Macro Perspectives
Bloomberg: Hosni Mubarak Resignation (Text of Statement)
Hosni Mubarak stepped down as president of Egypt and handed power to the military, bowing to the demands of protesters who have occupied central Cairo for the past three weeks demanding an end to his 30-year rule.
February University of Michigan Consumer Sentiment preliminary reading was reported at 75.1 vs. 75.0 consensus and 74.2 January reading.
U.S. trade balance for December was reported at $-40.6 billion vs. consensus of $-40.5 billion and November reading of $-38.3 billion.
*** Pragmatic Capitalism: The bond vigilantes await Portugal with open arms ***
*** The Big Picture: Once More Unto the Breach . . . ***
*** FT Alphaville: Man strolls back into burning platform ***
*** FT Alphaville: Monthly foreclosures start climbing again ***
*** FT Alphaville: Prepare for a major market over-reaction ***
*** China Financial Markets: Chinese stock markets and European politics ***
*** FTBeyondBRICs: Vietnam’s dong: what next? ***
Working gas in storage fell 209 Bcf from previous week. The consensus was at 197 Bcf.
Storage level is 71 Bcf lower than same time year ago.