Tuesday, March 8, 2011

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20110308 - Gaddafi poised

Note: Yesterday technical problems have prevented the publication of the daily.

USA
With rumors of the agreements in Libya and announcements of increased oil production by OPEC quota to make up for Libyan crude oil comes down a bit, removing the specter of an economic crisis caused by the cost of ' Energy (Roubini). Some interesting results and a bit 'of M & A between Sprint (+4.91%) and T-Mobile set the tone right for a good session.
DJI +1.03% +0.89% SPX, Nasdaq +0.41% VIX 19.82 (-4.07%)

Europe
The Libyans are good rumors to Europe where, however, continue the discussion on possible increases in rates (up to 0.75% during the year, according to Axel Weber). For the rest, the possible sale of T-Mobile USA by Deutsche Telekom (+3.95%) is an upgrade to the industry by Morgan Stanley. Eye Greece that he gets another downgrade by Moody's.
CAC +0.64%, DAX +0.04%, +0.24% SMI, DJES50 +0.48% V2X 23:45 (-3.93%)


Japan Japan is particularly sensitive to energy costs. A drop in crude oil prices mean so much. Some reports on the future of some companies (eg Toyota +0.41%) round out the framework for nikkei to bring a positive session losing streak after the ringed in recent days.
Nikkei +0.61%

Asia
other Asian markets also did well (though not enthusiastic), also grappling with the interest rate risk due to the inflationary problems. To give a little 'push positive there are still airlines, particularly affected by the price of crude oil.
Hang Seng +0.61%, Straits Time -0.38%, Taiwan +0.03%, Shanghai +0.29%, Sensex +0.04%


FX USDCHF 0.9364 (0.9252)
USDJPY 82.89 (82.26)
EURUSD 1.3885 (1.3976)
EURCHF 1.3003 (1.2930)
EURGBP 0.8600 (0.8601)
GBPUSD 1.6144 (1.6251)
GBPCHF 1.5117 (1.5030)

USD Libor 3 months 0.31% (0.31%)
USA tbill 3 months 0.10% (0.11%)
USA tbond 5 years 2.21% (2.17%)
Greece 10 years 12.84% (12.25%) (Moody's)

Gold 1426.75 (1437.85)
Crude 104.30 (106.02)
SPGS Commodity 713.36 (719.62)
Baltic Dry Index 1424 (1346)

Considerations
Roubini repeated the obvious: the crude oil could drive back to 140 in recession, many states, as well as an increase in interest rates in EUR. Obvious, perhaps trivial, but it clearly emphasizes the problems of a global economy where some states want to try to devalue its currency to try to revive the economy.

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