Russia Archive

Presidential poll, Euro area current account, Saudi output, Russian nukes

Clinton Vs. Trump: IBD/TIPP Presidential Election Tracking Poll (IBD/TIPP) The IBD/TIPP poll — a collaboration between Investor’s Business Daily (IBD) and TechnoMetrica Market Intelligence (TIPP) — has been the most accurate poll in recent presidential elections (About IBD/TIPP Poll). The latest results for the IBD/TIPP Presidential Election Tracking Poll will be released ...Read More

Fed labor market conditions index, NFIB chart, Oil comment

No one seems to know how much weight the Fed gives to this index: Highlights The labor market conditions index came in at minus 2.2 in September, extending its soft trend this cycle. Definition The Labor Market Conditions Index is an experimental indicator compiled by the Federal Reserve to track labor market ...Read More

China and Russia buying gold

Seems it’s always a central bank story. Goes up when they buy, down when they sell. Furthermore gold buying is supported by how it’s accounted for. That is, it doesn’t count as deficit spending or part of the pubic debt, even though the ‘taxpayer’ has to pay interest on the funds spent, ...Read More

Housing starts, High end weakness

Falling off, as previously discussed, particularly multi family, which had been the driver: Housing Starts Highlights Pulled down by a big drop in multi-family homes, housing starts fell a steep 11.0 percent in October to a 1.060 million annualized rate that is far below Econoday’s low estimate. Starts for multi-family homes, which ...Read More

Housing Starts, Redbook retail sales, EU merchandise trade, Russia comment, California real estate licensees

The good news here is that last month was up more than expected, and permits were up as well. Lots of cheer leading on this one, and the upward revision of last month’s report ups Q2 GDP estimates a tad, but a quick look at the charts tells me that so far ...Read More

Saudi discounts altered

Remember when they reduced some of their discounts I suggested they may be stabilizing prices? Now they are increasing a discount, indicating they are trying to soften prices? Saudis Deepen Asia Light-Oil Discount to Low in Market Fight By Anthony DiPaola and Mark Shenk Feb 6 — State-owned Saudi Arabian Oil Co. ...Read More

Saudi Arabia Raises Price of Main Oil Grade for Asian Buyer

More on Saudi price changes. Maybe the mainstream will wake up to the fact that the price went down because of Saudi price cuts, and not because of excess supply, etc. But maybe not… Saudi Arabia Raises Price of Main Oil Grade for Asian Buyers By Anthony DiPaola and Grant Smith Jan ...Read More

oil priced in rubles chart

Any coincidence that oil priced in rubles hasn’t moved all that much recently? ;) ...Read More

today’s observations

Not much sign of any move towards higher deficits today. Just talk of more bank liquidity, which doesn’t matter, and more to weaken the euro, which doesn’t work either. Hard to say why the euro has been going down, but it’s not ECB policy per se which, while meant to weaken the ...Read More

Consumer credit, wholesale trade, productivity and costs

This has been going the wrong way since the post winter April ‘surge’: Highlights Consumer credit rose $17.3 billion in June and was driven once again by the nonrevolving component, which rose $16.3 billion on vehicle financing and also the government’s continued acquisition of student loans from private lenders. The revolving component, ...Read More