Tuesday, October 27, 2009

Quick Overview

  • U.S. consumer confidence fell from 53.4 to 47.4 in October

  • The Richmond Federal Reserve's regional index of manufacturing fell from +14 to +7 in October

  • The Standard and Poor's/Case-Shiller index of U.S. home prices in 20 cities rose 1.2% MoM, but fell 11.3% YoY. This is the fourth consecutive monthly increase.

  • The eurozone reports the first YoY fall in bank lending to the private sector of 0.3% -- strengthening the case for the ECB to maintain its ultra-loose interest rate policy.

  • India will extend the deadline for duty-free imports of the raw sugar by nine months to Dec. 31 2010

  • (Bloomberg) -- The Philippines, the world’s biggest rice buyer, plans to bring forward imports for 2010 to beat other nations to the market before prices surge and ensure stockpiles aren’t drained, the National Food Authority said.

  • India eliminates 70% import tax on some rice types

  • “You can’t find a year in USDA’s data (which goes back to 1972) on corn harvest activity that is as slow as this year [20%complete]. Period. (CME)

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