Wednesday, February 25, 2009

Quick Overview

  • Existing-home sales fell 5.3% to a nearly 12-year low in January, and the median home price fell to $170,300 from $199,800 YoY.

  • U.K. GDP fell 1.5% in the fourth quarter

  • Industrial new orders in the Euro area fell 5.2% MoM and 22% YoY.

  • YoY EU steel production fell 45.9% in January

  • Czarnikow increased its estimate of the 2008-2009 world sugar production deficit from 5.8 to 10.4 million tons.

  • The U.S. DOE said:
    Supplies of crude oil rose 700,000 barrels to 351.3 million barrels.
    Supplies of gasoline fell 3.4 million barrels
    Supplies of heating oil fell 300,000 barrels.
    Refinery use fell from 82.3% to 81.4% of capacity
    Gasoline demand fell 1.7% YoY
    Distillate demand fell 1.6% YoY

  • South Africa's Chamber of Mines said the nation's gold production fell 14% in 2008 to the lowest level since 1922.

  • Bernanke said at risk homeowners need a bailout - even if they knew they couldn't afford their home in the first place.

  • (Reuters) - The Arctic and Antarctic regions are warming faster than previously thought, raising world sea levels and making drastic global climate change more likely than ever, international scientists said on Wednesday.

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