Sunday, October 25, 2015

Daily charts are up-to-date


  • Lazaridis added that “in the case of the Capesize and Handysize vessels, this looks to be a double gain, as we only need to see a similar rise in interest as the one noted last year during the same period in order to generate an equal improvement in freight levels, given as the fleet size of both these size segments has remained overall unchanged during the past 12 months. Taking the same consideration for Panamaxes and Supramaxes things aren’t as rosy, as their respective fleets have shown a notable increase since then. Nevertheless, things have been more positive for these size segments thanks to the improving demand from India which is driving bigger interest in the Pacific for these vessels. As such it wouldn’t be an exaggeration to place a base case scenario of the Baltic TCA rates in the Supramaxes and Panamaxes surpassing at some point the US$ 10,000/day mark before the year closes, while Capesizes should easily reach the US$ 25,000/day mark”, Allied’s analyst noted.

  • The Federal Reserve is still expected to raise U.S. interest rates in December but signs the labor market may be in a soft patch have dented confidence the central bank will pull the trigger, according to a Reuters poll

  • Eurozone’s trade surplus in August declined more-than-forecast from the previous month, as exports declined and imports increased, figures from Eurostat showed Friday.
  • The seasonally adjusted trade surplus fell to EUR 19.8 billion from EUR 22.4 billion in July. Economists had expected EUR 22.1 billion surplus.
  • Exports dropped 1.3 percent from July, while imports grew 0.2%

  • Factory output fell in September for a second month as high inventories and lukewarm demand from overseas customers kept American producers bogged down. The 0.1 % drop at manufacturers, which make up 75 % of all production, followed a revised 0.4 % decrease the prior month, a Federal Reserve report showed .

  • China's role in helping revitalize infrastructure and financial investment across Africa is gaining momentum ahead of the forthcoming Forum on China-Africa Cooperation (FOCAC) summit set to be held in South Africa in December, Kenyan expert said.

  • U.S. recession a little more likely? The probability that the world’s biggest economy will enter a recession in the next 12 months jumped to 15 %, its highest level since October 2013, according to economists surveyed Oct. 2-7 by Bloomberg. ...

  • (MW) Federal Reserve officials now seem open to deploying negative interest rates to combat the next serious recession even though they rejected that option during the darkest days of the financial crisis in 2009 and 2010. “Some of the experiences [in Europe] suggest maybe can we use negative interest rates and the costs aren’t as great as you anticipate,” said William Dudley, the president of the New York Fed, in an interview on CNBC.

  • Finance leaders from the Group of 20 largest economies backed an international agreement to limit tax avoidance by multinational corporations. The international effort, which represents the most wide-ranging overhaul of tax rules in decades, is meant to curb revenue losses from companies keeping profits overseas.

  • MoM German exports slumped by 5.2% in August, pushing down the trade surplus, adjusted for seasonal variations, to EUR19.6 billion ($22 billion), the Federal Statistical office said . That was the steepest decline in German exports since January 2009, an economist at Destatis said.

  • The Bloomberg US Consumer Comfort Index improved to 44.8 in the period ended Oct. 4, pushing above this year’s average, from 43. The measure has advanced 4.6 points over the last three weeks, the biggest gain for any comparable period since May 2009.

  • Britain’s Construction output plunged by a monthly 4.3% percent, its biggest fall since December 2012, contrasting with a median forecast for growth of 1.0 %.

  • China’s retail sales growth slowed during the week-long National Day Holiday, Ministry of Commerce data showed, adding to concerns about weakness in the world’s second largest economy.

  • The bond market isn’t buying what Feds Janet Yellen is selling on inflation. While she reiterated last week that the Fed expects inflation to gradually rise back near 2% - bonds are demonstrating this is bs..

  • U.S. consumer confidence rose in September to 103.0 from a revised 101.1 in August. Forecasters had it dropping to 96.0…

  • (MarketWatch) -- U.S. house prices rose 0.6% in July, led mostly by western markets including Portland and San Diego, according to the S&P/Case-Shiller 20-city composite released Tuesday. After seasonal adjustment, prices slipped 0.2%. Over the last 12 months, prices have climbed 5%, led by 10.4% growth in San Francisco and 10.3% growth in Denver.
  • Fourteen cities reported greater price increases in the year ending July 2015, and every city saw price gains.
  • U.S. New-home sales rose 5.7 % last month to a seasonally adjusted annual rate of 552,000m - that is the strongest pace since February 2008, near the beginning of the Great Recession.

  • According to the most recent weekly data from credit card data tracking website, the national average for U.S. credit card interest rates is 15% So, unless this is paid off - it'll double every 4.8 years (rule of 72)
  • According to a report from the Federal Reserve in July, revolving debt rose to $914.6 billion, up $4.3 billion MoM. This is the highest level of consumer-carried debt since December 2009, implying a YoY growth rate of 5.7%.

  • China’s top government-affiliated think tank has lowered its growth estimate for 2015, saying the economy is unlikely to deliver the 7% annual growth. It now expects growth of 6.9%

  • Goldman Sachs released a September 22 research note that predicted that coal will decline and never come back. “Peak coal is coming sooner than expected,” the investment bank concluded.

  •  “ Germany’s wages rose 2.7 % YoY

  • To provide complete care for its residents, Chaseley Trust — a venerable British nursing facility housed in an ornate seaside mansion — offers amenities such as a movie theater, a gymnasium and a pool table. It also, from time to time, invites prostitutes and strippers to provide their services to residents.