Archive for March 24th, 2011

Daily Reading – Thursday, March 24, 2011

*** The Slope Of Hope: Precious Metals Rocket Ship ***
*** Harvey Organ’s Daily: Silver advances past $37.00/Premium interday on Sprott silver surpasses 23%***
***JESSE’S CAFÉ AMÉRICAIN: Meanwhile In the US: It’s Raining Pennies From Heaven ***
***Visualizing Economics: Real vs Nominal Housing Prices: United States 1890-2010 ***
***FT BeyondBRICs: Technology supply chain: still surviving ***
***FT Alphaville: Charts du jour, European bond yields ***
***FT Alphaville: Calculating the size of a Portugal rescue ***
***FT Alphaville: Plummeting in Iberia ***
***FT Alphaville: Bond buyback irony in Europe ***
***Macro Man: Euro Vinegarette ***
***Economics of Contempt: Goldman, the Volcker Rule, and Principal Investing ***

U.S. Durable Goods New Orders Fell 0.9% In February

Durable goods new orders fell 0.9% in February vs. 1.2% consensus and 3.6% revised rise in January (revised upwards from +2.7%).

U.S. Initial Jobless Claims At 382.000; Down 5.000

Initial jobless claims in the U.S. were reported at 382.000 vs. 383.000 consensus and last week revised (up 2.000) reading of 387.000.

Four weeks moving unchanged.

U.S. Petroleum Weekly – March 24, 2011

I was wrong on the assumption that West will let Gaddafi win the war in Libya. U.N. approved military intervention will keep the Libyan oil out of the markets for longer then previously thought. This is positive for crude oil price.

Concerning Japan it is reasonable to assume increased derivatives demand, also positive for oil price.

In the U.S. the gasoline draw is looking quite impressive (although it is not demand driven, rather a product of refiner discipline). This could help clear Cushing stockpile glut and close the WTI – Brent pricing gap.


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