U.S. Natural Gas Weekly – May 20, 2011
Working gas in storage rose 92 Bcf from previous week. The consensus was at 90 Bcf.
Storage level is 170 Bcf lower than same time year ago and bellow 5-year average.
Archive for the ‘Markets’ Category
Crude Oil Slide Continues…
Down more than 4%….
On Commodity Blow-Up
I am shocked on the scale of commodity fall out today.
The markets felt like something’s up in the last couple day’s but this look’s absolutely overdone.
Even more weird is that stocks held up nicely.
It almost looks like something blew up (hedge fund, trading desk, somebody’s cross-asset hedges) and needed to wind down fast.
We will know in the coming days if something happened or this is self-fueled panic and margin induced sell-off.
I have put some light longs in the last hours of trading. Yeah…maybe not smart, but we are talking here about 4+ standard deviations moves (1 in 15,787 event, so expected to occur once in 43 years) so I felt tempted. Waiting for the commodity plunge protection team. Will close fast if this continues tomorrow.
We will see what happens.
FOMC Statement – April 27, 2011
As expected: rising commodity prices increased inflation but the effect are only transitory, asset purchase programs will be completed as scheduled, extended period formulation still here.
VIX At Lowest Level Since June 2007
Back to 2007.
S&P Revises U.S. Outlook To Nagative
S&P affirmed U.S. credit rating – AAA (long term), but changed outlook from stable to negative.
First Orbit – 50 Years
Real time recreation of Yuri Gagarin’s pioneering first orbit, shot entirely in space from on board the International Space Station. The film combines this new footage with Gagarin’s original mission audio and a new musical score by composer Philip Sheppard.
ECB Raises Benchmark Rate By 25 bps
ECB raised key benchmark rate to 1.25% from 1.00%.
FOMC Minutes – April 5, 2011
Inflation is transitory (whatever that means), no sign of removing “extended period” formulation, asset purchasing program to be completed.
A Week Off
I am taking a break from the markets. Posting will be sporadic at best in the next week .
Good luck with your trading! I’ll be back with first days of April.
Video Of The Day – Bloomberg’s Jaroslovsky Reviews Nintendo 3-D Game Player
Bloomberg’s Rich Jaroslovsky reviews Nintendo’s new 3-D game player. The $250 Nintendo 3DS, which goes on sale in Europe today and the U.S. March 27 is the successor to Nintendo’s DS player. It’s the first mass-market gadget to feature autoscopic 3-D, a three-dimensional display that can be viewed without the need to wear special lenses.
Libya Declares Immediate Ceasefire
Talking about strange twist of events… Markets not buying the story.
U.N. Approves “No-Fly Zone” Over Libya
The United Nations Security Council approved a resolution authorizing international military intervention (any measures short of a ground invasion) in Libya.
Japan Update – Things Getting Worse?
Japanese official reports are quite scarce, so this is my inferring based on what is not said rather than on what is said.
FOMC Statement – March 15, 2011
The wording on strength of economic recovery is upgraded (“economic recovery is on a firmer footing”). Some improvement in labor market recognized.
Energy and commodities rising prices effect on inflation downplayed.
