Global Macro Perspectives
March 3 (Bloomberg) — Marc Faber, publisher of the Gloom, Boom & Doom report, talks about the outlook for global stock markets. Faber also discusses the U.S. economy and commodity markets. He speaks with Tom Keene on Bloomberg Television’s “Surveillance Midday.” (Source: Bloomberg)
Bloomberg:
European Central Bank President Jean-Claude Trichet said the ECB may raise interest rates next month to fight accelerating inflation pressures.
An “increase of interest rates in the next meeting is possible,” told reporters in Frankfurt today after the centralbank left its key rate at a record low of 1 percent. “Strong vigilance is warranted,” Trichet said, adding that any increase would not necessarily be the start of a “series” of moves.
Initial jobless claims in the U.S. were reported at 368.000 vs. 295.000 consensus; last week revised (down 3.000) reading was at 388.000.
Four weeks moving average sharply lower.
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To repeat: If Libya doesn’t restart producing with full capacity soon the price of oil will go up.
In U.S.: Markets are well supplied, demand historically speaking weak, refiners cutting refining capacity and crude oil imports. WTI – Brent pricing disparity still very high.