Wednesday, February 18, 2009

Quick Overview

  • U.S. housing starts plunged 17% percent last month to an annual rate of 466,000.

  • The Mortgage Bankers' Association said mortgage applications rose 46% last week.

  • Canada’s wholesale sales fell 3.4% in December

  • Construction output in the Euro area fell 2.2%MoM and 10.1% YoY.

  • Demand for gold rose by 29% to $102bn last year, according to the World Gold Council.

  • Latvia's Finance Ministry announced that the economy will shrink 12% this year.

  • Greenspan said the U.S. government may have to nationalize banks “temporarily”.

  • The number of idle containerships has increased to 392, aggregating to 1,100,000 TEU, or 8.8% of the box fleet, according to Paris-based AXS-Alphaliner News.

  • E*Trade reported a 30% slide in new accounts opened in January as it deals with a waning appetite for the equities markets.

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