Tuesday, June 23, 2009

Quick Overview

  • U.S. existing home sales rose 2.4% to 4.77 million units in May -- less than expected.

  • (Reuters) - U.S. chief executives took a slightly less grim view of the economy in the second quarter, but still plan to cut jobs and capital spending, according to a Business Roundtable survey released on Tuesday.

  • Japan's exports in May dropped 40.9% YoY

  • Germany’s July Consumer Confidence rose to 2.9 from 2.6 in June

  • Switzerland May Trade Balance out at 2.01B vs. 2.55B in April.

  • Euro Zone June PMI Manufacturing out at 42.4 versus 40.7 in May.

  • Euro Zone June PMI Services out at 44.5 versus. 44.8 in May

  • The USDA said there were 79.1 million pounds of frozen bellies in storage, down 9.5% YoY.
  • Frozen pork totaled 584.1 million pounds, up 0.8% YoY.

  • The USDA said frozen supplies of orange juice in storage at the end of May were up 0.6% YoY.

  • (FT) Japanese retail investors, once enamored of Icelandic bank accounts and kiwi bonds, are now turning their purchasing power to Japanese stocks

  • FedEx CEO says the worst is behind us and is poised for growth in the second half

  • China has cut the export tax on several steel products to 5% from the 10-15%.

  • (Bloomberg) -- Sugar jumped to the highest price since July 2006 on signs that a production deficit may extend into a second year

  • China's sugar imports in May rose 26% on year to 141,457 metric tons, the General Administration of Customs said.

  • India’s sugar output is forecast to drop about 45% to 14.7 million tonnes in the crop year to September.

  • (WSJ) Madoff asked a federal judge to sentence him to as little as 12 years in prison. Sentencing of the disgraced financier is scheduled for June 29.

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