Monday, July 30, 2007

Quick Overview

  • Treasury’s Henry Paulson said the U.S. government will hit its $8.965-trillion debt limit in early October and asked Congress to raise it.

  • U.S. Capital markets are losing market share to overseas competitors, but it is the bond market rather than equities that is losing ground to foreign competition, a study by the Federal Reserve Bank of New York showed.

  • The Chinese government increased bank reserve requirements - again.

  • Japan's industrial production increased 1.2% in June.

  • The USDA said that:
    58% of the corn crop rated good to excellent, down from 62%.
    58% of the soybean crop rated good to excellent, down from 61%.
    68% of the spring wheat crop rated good to excellent, down from 75%.
    54% of the cotton crop rated good to excellent, down from 56%.

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