Thursday, August 27, 2009

Quick Overview

  • U.S. GDP fell 0.25% in Q2 and 3.9% YoY -- better than expected.

  • U.S. jobless claims fell 10,000 last week to 570,000 -- better than expected.

  • (WSJ) The FDIC's insurance fund fell to just $10.4 billion at the end of June, the lowest since the savings and loan crisis, as the banking industry continues to struggle with souring loans.

  • U.K.'s business investment fell 10% in Q2 and down 18% YoY.

  • (Farm Futures Bryce Knorr)... the latest two-week American model run shows a dramatic shift, with a major cold front working through the Dakotas and Nebraska as far south as Central Illinois Sept. 10 and 11, which could set up the season's first real frost scare.

  • Shipping Co’s hiking rates:
    Unired Arab Shipping Company announced it is increasing rates from the Far East to Arabian Gulf and Indian subcontinent ports.
    Emirates shipping line has announced rate increases on cargo moving between Far East to the Middle East.
    Maersk hikes rates on full range of intra-America trades. Hapag-Lloyd hikes rates on wide range of secondary trades.
    Mitsui OSK Line is implementing a general rate increase on its Europe-South Africa trade.

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