Global Macro Perspectives
Working gas in storage rose 83 Bcf from previous week. The pain is not coming to its end. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average Chart 3. Natural Gas Futures Curve
Looks like politicians have managed to calm the markets down with words of support for a Greek bailout. Apparently the newly issued debt will be junior to the one outstanding. There is even some talk that the program would be a fully funded 2-year program. This means something like $100 – $150 billion. Greek government […]
Initial jobless claims were reported at 448.000. The consensus was at 447.000, last week revised higher reading was at 459.000. Chart 1. U.S. Initial Jobless Claims
Nothing major. FED Press Release. Economic activity picking up; Business spending improving; Construction spending not; Labor market beginning to improve. Information received since the Federal Open Market Committee met in March suggests that economic activity has continued to strengthen and that the labor market is beginning to improve. Growth in household spending has picked up […]