- In the US, since 1900, the longest anyone has had to wait for a positive return from a position in stocks (Index) is 17 years. In Italy its 74 years --so says the FT
- (Barrons) Baltic Dry: Not Washed Up -- News that the Baltic Dry Index is sunk as an economic indicator is much exaggerated.
The index—which measures the cost to haul dry freight over the world's oceans—has merely run aground after getting hit with a shipping-market tsunami. Don't worry. It will right itself soon enough–and should once again become a useful forecasting tool, as early as the end of the year.
The cost of shipping dry commodities, such as coal, iron ore and grains, forms the basis for the BDI. When more raw materials are shipped, it is because they are needed to be made into ...
- (Bloomberg) -- The trustee liquidating MF Global Inc. brokerage said the firm has a shortfall of at least $1.6 billion to pay commodity customers’ claims.
- The Hellenic Statistical Authority said YoY Greece’s manufacturing output contracted by 15.5% in December and industrial output fell 11.3%, having fallen 7.8% in November. Unemployment jumped to 20.9% in November, up from 18.2% in October - a rise of 14% in a month.
- The U.S. federal government reported a budget deficit of 27.4 billion U.S. dollars in January, the figure is sharply lower than the reading of 50 billion a year earlier.
- Industry output in France lost ground in December as the electrical and textile industry dragged down the country's overall production by 1.4%.
- Britain's producer prices rose 0.5 % MoM.