Tuesday, December 16, 2008

Quick Overview

  • The Fed cut the fed funds rate from 1.00% to .125%, and signaled they will keep rates "exceptionally low" for some time amid rapidly waning price pressures.

  • U.S. housing starts were at a record (since 1959) low annual rate of 625,000 in November, down 18.9% MoM.
    Building permits fell 15.6% MoM.

  • The U.S. consumer price index fell 1.7% in November rose 1.1% YoY

  • YoY U.K. consumer prices rose 4.1% in November

  • Manufacturing and services index in the Euro area fell from 38.9 to 38.3

  • China’s November steel output fell by 12.4% YoY

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