Crude oil demand revised up

This means Saudis/Russians will continue to be price setters for at least the next few quarters. IEA Lifts 2008 World Oil Demand Growth Forecast By Reuters | 14 Dec 2007 | 05:32 AM ET World oil demand will grow more quickly than expected next year fueled by the Middle East and proving ...Read More

Citi Takes SIVs onto Balance Sheet

More ‘funding stress reduction’ as these are now off the SIV funding docket. Citi Takes SIVs onto Balance Sheet By Reuters | 13 Dec 2007 | 08:03 PM ET Citigroup plans to take $49 billion of structured investment vehicles onto its balance sheet, after ratings agencies’ threats to downgrade the SIVs debt. ...Read More

Hearing economists revising q4 gdp up by about 1.5%

Getting word that many economists are upping Q4 GDP estimates by 1.5% after today’s numbers. Forecasts now up to around 2%. ♥ ...Read More

ABCP working its way down

UPDATE 2-U.S. ABCP market smallest since fall 2005-Fed Thu Dec 13, 2007 12:58pm EST By Richard Leong and John Parry NEW YORK, Dec 13 (Reuters) – The U.S. asset-backed commercial paper market contracted to its smallest level since the fall of 2005, a symptom of ongoing global credit squeeze, Federal Reserve data ...Read More

2007-12-13 US Economic Releases

Producer Price Index MoM (Nov) Survey -1.5% Actual 3.2% Prior 0.1% Revised n/a Off the charts! PPI Ex Food & Energy MoM (Nov) Survey 0.2% Actual 0.4% Prior 0.0% Revised n/a Core moving up to headline? That’s the fed’s worst nightmare now. Producer Price Index YoY (Nov) Survey 6.0% Actual 2.0% Prior ...Read More

8:30 Numbers

Consensus was high enough, let’s see how tomorrow turns out. Also retail sales up a lot more than just energy prices, and claims down. Still no sign yet of aggregate demand breaking down Lehman earnings higher than estimates November Inflation Surged; Retail Sales Also Strong Inflation at the wholesale level was stronger ...Read More

AMT tax cut

Seems the AMT tax cut has a chance of getting through with being ‘paid for’ if the Democrats capitulate. This would add about 100 billion to the deficit and help support aggregate demand a bit. ♥ ...Read More

UK Inflation expectations rise

Sends a chill up the spine of any red blooded mainstream central banker! Inflation expectations rise Thu Dec 13, 2007 9:37am GMT – Britons’ expectations of future inflation rose to hit a series high of 3.0 percent in November, well above the actual rate of inflation, a survey by the Bank of ...Read More

Credit Recap

(an interoffice email) > > Office Depot (ODP): Announced today that it sees erosion of sales and > earnings in the 4th quarter of 2007 due to housing problems, especially in > FL and CA. These two states account for 28% of ODP’s North American sales. > First actual weak report for ...Read More

2007-12-12 US Economic Releases

MBA Mortgage Applications (Dec 7) Survey n/a Actual 2.5% Prior 22.5% Revised n/a Mortgage Bankers Association Purchasing Index SA Looking very firm. Possible evidence housing may have bottomed. Affordability is up with prices flat to down, rates down, and nominal income growing. Yes, I’ve heard the stories about multiple applications, but even ...Read More