gasoline demand vs 2 yrs ago


[Skip to the end]

I use comps from two years ago as last year was unusually choppy.

No sign of gasoline demand picking up that I can detect.

Starting to look like the Saudis decided to give themselves maybe a $10 per barrel price increase,
but too soon to tell.

GDP up some from last quarter but still below last year’s levels.

Inventories contributed .9% after being a drag previously, and motor vehicles contributed 1% to the 3.5% total GDP increase in this initial report.


[top]

Moody’s Lowers Outlook on Portugal,Greece On Downgrade Review


[Skip to the end]

The Euro zone remains at risk of a liquidity crisis for the national govts.

This doesn’t help.

On Thu, Oct 29, 2009 at 5:37 AM, wrote:

5:02 *MOODY’S CHANGES THE OUTLOOK ON PORTUGAL’S Aa2 RATING TO NEG (From
Stable)
5:01 *MOODY’S PLACES GREECE’S RATINGS ON REVIEW FOR POSSIBLE DOWNGRAD

MOODY’S SAYS REVISION IN GREECE’S PROJECTED 2009 DEFICIT ADDS TO
CONCERNS ABOUT RELIABILITY OF COUNTRY’S OFFICIAL STATISTIC

to be clear Moody’s has Greece on A1 while S&P already has them on A-
and for Portugal Moody’s still has it on Aa2 and S&P is very penalizing
on A+

Peripherals cheaper after the news (Portugal +2bps, Greece +3bps, Italy
+ 1.5bps)


[top]