Japan is the first G7 country to fall back into recession, but will it be the last?
After reading the last few FOMC statements, we get the sense that the Fed is acting like a traffic cop at the scene of an accident, ushering gawking motorists along… nothing to see here folks, just keep moving on.
Robert Reich, former U.S. Secretary of Labor and current professor at Berkeley, is mad that this country’s most efficient manufacturing industry made money in the first quarter. He expressed his disgust over the weekend in a piece published at SFGate.com.
When the PPI increases by more than the CPI, it means producers are absorbing the higher costs of raw materials rather than passing them on to consumers.
In regard to yesterday's (Thursday's) U.S. Senate Committee on Finance farce (aka the hearing on Oil and Tax Incentives and Rising Energy Prices), what can we say that we have not already said in the past about these political sideshows?
The market dropped by more than $11 a barrel last Thursday, and by almost $15 a barrel the following session. Then on Monday and Tuesday of this week the market rallied by $13.50 and near $12, respectively. This is insane. These numbers would have been inconceivable just a few years ago.
The flooding along the Mississippi River and the potential impact to downstream capacity at the mouth of the River was digested over the weekend. Nymex gasoline opened yesterday's pit session on the bid as a result. That is not hard to understand. The only question is...
Last week the intra-week peak-to-trough decline in the euro/dollar cross plunged by 4.2%, the 17th largest negative range since 2002. The overall week-on-week decline amounted to 3.32%. That was the largest decline since the first week of the year and the 9th largest since 2002.