Sunday, May 30, 2010

Quick Overview

  • Fitch cut its credit rating for Spain from AAA to AA+

  • U.S. personal incomes rose 0.4% in April.
  • U.S. Consumer spending was unchanged in April, weaker than expected.
  • The Chicago Purchasing Managers' index fell from 63.8 to 59.7 in May
  • The University of Michigan's index of consumer confidence rose from 72.2 to 73.6 in May

  • Japan's unemployment rate rose from 5.0% to 5.1% in April.
  • YoY Japan’s consumer prices fell 1.2% in April
  • YoY Japan’s household spending fell 0.7% in April.

  • (Bloomberg) -- The global refined sugar market will stay in deficit this year, with import demand exceeding available exports by 1 million metric tons, even as raw-sugar production expands, said Kingsman SA.
  • The global sugar market may have a surplus of 2.5 million tons in the year beginning Oct. 1, compared with a deficit of 8.5 million tons this year, the International Sugar Organization said May 14. Excess supply in 2010-2011 may be 6 million tons, Sucres et Denrees SA said April 30.

  • Silver prices are likely to hit $20 a troy ounce this year supported by “double-digit” growth in industrial consumption and strong investment demand, according to GFMS.

  • YoY U.S. Truck tonnage rose 7.5% in April -- the fifth straight year-to-year increase and the largest gain in more than five years, American Trucking Associations said Friday.

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