Tuesday, October 28, 2008

Quick Overview

  • The U.S. Standard & Poor's/Case-Shiller index of home prices in 20 cities fell 1.0% in August and 16.6% YoY. YoY prices fell more than 30% in Las Vegas and Phoenix. Prices in Miami, San Francisco, Los Angeles and San Diego all fell more than 25%.

  • The Conference Board's index of consumer confidence fell from 61.4 to a record low 38.0 in October.

  • Iceland’s raised interest rates to 18% to prop up its frozen currency and markets.

  • Because of a computer error the USDA issued new supply and demand estimates for 2008-2009 corn and soybeans.
    Corn was reduced from 1.154 to 1.088 billion bushels.
    Soybeans were reduced from 220 to 205 million bushels.


  • Canada had 12.8 million hogs in inventory on October 1st, down 10.9% YoY.

  • (Reuters) - Iraq's government denounced on Tuesday a U.S. air strike on a Syrian border village in an unexpected rebuke of Washington.

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