Baltic Dry Index At 1840, Down 3.3%
Again down… Longest loosing streak in nine years. Chart 1. Baltic Dry Index
Archive for July, 2010
New Week Intro July 12, 2010
Important U.S. earnings this week: Monday: Heartland Express (HTLD), Commerce Bancshares (CBSH), Shaw Group (SHAW), CSX (CSX), Alcoa (AA), Novellus Systems (NVLS) Tuesday: Intel (INTC), Yum! Brands (YUM), Fastenal (FAST), Wednesday: ADTRAN (ADTN), Marriott International (MAR), Westamerica Bancorp. (WABC), Landstar System (LSTR) Thursday: JPMorgan Chase & Co. (JPM), Advanced Micro Devices (AMD), People’s United Financial […]
Dry Bulk Weekly – July 11, 2010
Baltic dry index fell 16.6% last week; The hardest hit were Panamaxes with 20.6% loss; Capesizes lost 20.0% ; Handysizes and Supramaxes lost 10.3% and 8.9%. Chinese tax rebates on hot-rolled coil and some cold-rolled coil and galvanized products will be removed starting July 15. This makes Chinese steel exports uncompetitive and it is moving the markets. Chinese steel […]
Tanker Weekly – July 11, 2010
Baltic Dirty Tanker Index fell 4.2%; Baltic Clean Tanker Index rose 0.5%. In short, the supply of vessels overwhelms cargoes needed to be transported for at least following month. Chart 1. Baltic Tanker Indexes Relative Performance Chart 2. Baltic Tanker Indexes
Beach vs. Blogging
Belisarius is keeping this week’s posts short as he’s on vacation and in a beach vs. blogging standoff the beach is winning. The markets, anyhow, make no sense as gunning the market up on a no economic data week is the flavor of the week. This is the beach Belisarius enjoyed today.
Greece Returns To Financial Markets – Part 2
I already wrote that Greece returning to financial markets despite receiving fully funded bailout is a stupid idea: Greece Returns To Financial Markets. Apparently idea to issue 1-year bills was scraped and they are planing to issue 6-month notes. Reuters story: Greece to sell 1.25 bln eur of 6-mth T-bills July 13. Greece will auction 1.25 billion euros ($1.58 […]
ECRI Weekly Leading Index Down 8.3%
Well, we are just shy of critical level of -10.0% level despite improving initial jobless claims and equity market bounce. Chart 1. ECRI Weekly Leading Index
Baltic Dry Index At 1902, Down 2.0%
Again down… Brake-even for shipowners is around 2.200, so most of of the shipping companies are losing money at this levels. Chart 1. Baltic Dry Index
U.S. Petroleum Weekly – July 08, 2010
Crude oil stocks fell 5.0 million barrels for week ending July 2; Gasoline stocks rose 1.3 million barrels; Distillate stocks increased 0.3 million barrels; Propane/propylene stocks rose 1.9 million barrels; Total crude oil and petroleum stocks were 0.4 million barrels higher than the week before. Refinery utilization rose from 88.4% to 89.8%. Highest since January […]
U.S. Natural Gas Weekly – July 8, 2010
Working gas in storage rose 78 Bcf from previous week. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average
Baltic Dry Index Falls 3.9% To 1940
Another move to the downside. Chart 1. Baltic Dry Index
Initial Jobless Claims At 454.000; Down 21.000
Initial jobless claims were reported at 454.000. The consensus was at 465.000, last week revised reading was at 475.000. Chart 1. U.S. Initial Jobless Claims
Baltic Dry Index Falls 5.1% To 2018
It just keeps going lower….if it continues for a just a couple days it will look as a rerun of a BDI performance as recession started. And we all know what happened than… Chart 1. Baltic Dry Index
MBA Mortgage Applications Up 6.7%
MBA mortgage applications rose 6.7% for week ending July 7, the prior reading was a rise of 8.8%. The refinancing index gained 9.2% and is responsible for a composite rise. Purchasing index fell 2.0%. Chart 1. MBA Mortgage Applications
346 Tons Of Gold On BIS Balance Sheet
The big news point of the day is a newly discovered 346 tons of gold on Bank for International Settlements (BIS) balance sheet. The information can be found in a footnote in the BIS’s annual report. Page 163. Included in “Gold bars held at central banks” is SDR8,160.1 million (346 tonnes) (2009: nil) of gold, which theBank held in connection […]