Tuesday, March 09, 2010

Quick Overview

  • German Chancellor Angela Merkel and Luxembourg's Prime Minister Juncker said today that Europe and the U.S. must take quick action to regulate credit-default swaps before more financial crises occur.
  • (It’s like buying fire insurance on your neighbor’s house — you create an incentive to burn it down)

  • Lumber closed up its $10 daily limit.

  • The U.S. DOE expects world oil demand to increase from 84.0 to 85.5 million barrels per day in 2010, up from last month's estimate of 85.3.

  • U.K. exports fell 6.9% in January while imports fell 1.6%.

  • Japan's coincident index rose from 97.4 to 99.9 in January, better than expected

  • Sugar prices endure another pounding after estimates for India's production this season were revised higher.

  • The CME is to launch a US dollar-denominated cash-settled crude palm oil futures contract on May 23


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