Wednesday, August 03, 2005

Quick Overview

  • The US Treasury said early Wednesday that it will bring back the 30-year bond with an auction in the first quarter of 2006, with auctions held twice a year. The Treasury didn't say exactly how much in 30-year bonds it plans to sell next year, although it estimated the size per year will be about $20 to $30 billion.

  • The U.S. services sector fell in July, the Institute for Supply Management reported Wednesday

  • The DoE reported that U.S. stocks of crude oil rose by an unexpected 200,000 barrels last week to 318 million barrels as imports soared to nearly 11 million barrels a day. Supplies of unleaded gasoline dropped 4.0 million barrels and heating oil supplies dropped 1.1 million barrels.

  • Brazil has made itself into a "shining example" of strong economic performance that stands in sharp contrast to Europe and Japan, U.S. Treasury Secretary John Snow said on Tuesday.

  • An index of services in the U.K. increased from 55.8 to 56.3,

  • An index of services in the Euro zone increased from 53.1 to 53.5 in July.

  • China expects consumer inflation to run at under 2.5 percent this year, state media reported Thursday, citing a government policy making body.

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