U.S. Initial Jobless Claims At 403.000; Down 13.000
Initial jobless claims in the U.S. were reported at 403.000 vs. 390.000 consensus and last week revised (up 4.000) reading of 416.000.
Four week moving average rising.
Archive for April, 2011
VIX At Lowest Level Since June 2007
Back to 2007.
U.S. Petroleum Weekly – April 21, 2011
Goldman will certainly have a good explanation how in a depressed demand environment stockpiles are falling in a oversupplied market.
U.S. Existing Homes Sales Rose 3.7% In March
Sales of existing homes in U.S. rose 3.7% to 5.1 million units SAAR. Consensus was at 5.0 million.
Daily Reading – Wednesday, April 20, 2011
*** Pragmatic Capitalism: RECOGNIZE THIS PATTERN? ***
*** The Slope Of Hope: The Risk to the Bears ***
*** JESSE’S CAFÉ AMÉRICAIN: Gold Daily and Silver Weekly Charts – Goal Line Stand ***
*** JESSE’S CAFÉ AMÉRICAIN: Riding the Silver Bull: Worry If It Gets to Triple Digits This Year ***
*** JESSE’S CAFÉ AMÉRICAIN: The Much Abused Spirit of Contrarianism ***
*** FT Alphaville: Royal Wedding markets, then and now ***
*** Econbrowser: Keystone Gulf Coast Expansion Project ***
*** Reuters: Only toughest thrive in Glencore’s trading culture ***
*** The Slope Of Hope: Veritas ***
Number Of U.S. Housing Starts Rose 7.2% In March; Number Of Building Permits Issued Rose 11.2%
U.S. housing starts in March rose 7.2% to 549.000 vs. revised (33.000 higher) 512.000 February reading. The consensus was at 520.000. On year level U.S. housing starts are down 13.4%.
Daily Reading – Tuesday, April 19, 2011
*** The Big Picture: Why Listen to S&P on US Debt? ***
*** FT Alphaville: Losing my (AAA) religion ***
*** FT Alphaville: At the outer edge of ratings territory ***
*** FT Alphaville: Hurdles to a Greek debt restructuring ***
*** The Slope Of Hope: Comment of the Day ***
*** JESSE’S CAFÉ AMÉRICAIN: How Far Can the Fed Go in Manipulating Markets Before It Becomes a Private Banking Fraud? ***
*** Pragmatic Capitalism: Y2K = QE2 ***
*** The Slate: The Double Irish and the Dutch Sandwich ***
*** Huffpost Green: Water Wars: China’s New ‘Political Weapon’? ***
Daily Reading – Monday, April 18, 2011
*** FT BeyondBRICs: RRR hikes: China’s liquidity mop ***
*** FT Alphaville: Smoke, mirrors, and Greek maturity swapping ***
*** FT Alphaville: The literal Bernanke put ***
*** FT Alphaville: More on the literal Bernanke put ***
*** FT Alphaville: Who’s afraid of Comex gold delivery? ***
*** Econbrowser: Brent-WTI spread ***
*** FT BeyondBRICs: Nigeria: good news for Goodluck ***
*** Slope Of Hope: The Spoiled Brats at Google ***
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.
New Week Intro – April 18, 2011
Weekly economic calendar.
Dry Bulk Weekly – April 18, 2011
Baltic dry index fell 5.8% last week; Capesize Index was down 3.0%; Panamax Index fell 10.7%; Supramax Index was down 3.0%; Handysize Index rose 1.3%.
Huge drop in thermal coal stockpiles; Huge drop in steel inventory; Rising inventory of iron ore. Prices are strong. Monetary tightening still not affecting Chinese commodity demand much.
Rig Count Weekly – April 16, 2011
Number of crude oil drilling rigs fell for 6; Number of natural gas drilling rigs rose for 8.
Tanker Weekly – April 16, 2011
Baltic Dirty Tanker Index fell 4.5%; Baltic Clean Tanker Index rose 1.8%.
U.S. Freight Carloads Weekly – April 15, 2011
U.S. railroads originated 293,798 carloads, up 1.8% compared with the same week in 2010 and down 1.9% compared with 5-year average. Week over week change was -4.0%.
China Charts Wrap Up
The rest of the charts I didn’t have time to post…