Archive for March 1st, 2011

CNBC – Mohamed El-Erian On U.S. And World Economy

PIMCO’s Mohamed El-Erian on U.S. and world economy, Middle East…
Some serious slaps to Ben Bernanke.

Video Of The Day: CNBC – Dr. Doom: Buy Housing Now

Skip CNBC bla bla bla and fast forward to 02:20…

U.S. Construction Spending Fell 0.7% In January

U.S. construction spending fell 0.7% in January vs. 0.8% consensus and 1.6% fall (revised from 2.5% fall) in November. On year level we are at -5.9%.

February ISM Manufacturing Index At 61.4

ISM Manufacturing Index was reported at 61.4 vs. prior reading of 60.8 and consensus of 61.0.

Highest reading in more than 25 years. Improved ISM Manufacturing Index suggest strong(er) industrial production growth in the U.S.

Morning Reading – Tuesday, March 01, 2011

*** FT BeyondBRICs: Saudi stocks plunge 7.4% ***
*** FT Alphaville: Saudi contagion shivers ***
*** Zero Hedge: Jim Rogers: “Saudi Arabia Is Lying About Being Able To Increase Its Oil Production” ***
*** FT Alphaville: Madoff, father of the automated trade ***
*** The Atlantic: The Myth of Japan’s ‘Lost Decades’ ***
*** The Wall Street Journal Law Blog: The Big Suit? Michael Lewis Sued Over Mortgage Meltdown Book ***
*** The Big Picture: “Trade the First Day, then Stay Away” ***
*** The Slope Of Hope: No Ship, Sherlock ***

February China Official PMI At 52.2; HSBC/Markit China PMI At 51.7

Official (China Federation of Logistics & Purchasing and National Bureau of Statistics) China PMI fell form 52.9 to 52.2; HSBC/Markit PMI fell from 54.5 to 51.7.

Weakening, but inline with expectations.


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